Hubert Senters here.
Let’s take a look at MELI. Someone in the trading room today asked me ‘’what my current thoughts were?’’ And I know I just did a video on it yesterday. They’re the same. It still looks higher. I’ll give you a potential target on it though. It still looks good. It’s a nice continuation of buy program or pattern I should say not program.
We’re going to draw from this low right here then to the most recent high. We’ll try to get as accurate as I can and then back down to this low. Let me zoom out. And I’ll show you what I’m doing here. It’s just a good Fib extension or projection or whatever you want to call it. Point one, point two, point three low, high, high or low.
Obviously, the first target needs to get through this is $481 areas which it should as long as the markets continue to go high. Next target is going to be $510 followed by $538 and then $555 oddly enough a lot of times it’ll get stuck right here like $524 in between the hundred and the $138 and sometimes though oddly enough gets stuck right here in between the $60 in this and the $100 so $496 we just think next target $510, $538, $555.
Good luck. Hope it helps. And I’ll see you on the next video.