$SUI is now showing a developing triangle formation, suggesting the possibility of one more slight push to fresh lows if wave E completes and price resolves to the downside. The broader market structure remains range-bound, with price hovering around the equilibrium zone. From this level, a rotation back toward the lower support region is still a valid scenario.
In a sideways environment like this, adaptability is key. Exact wave counts carry less weight than the presence or absence of clear impulsive price action. So far, there is no validated five-wave structure emerging from Tuesday’s low, which reduces the probability of an immediate bullish continuation. The current structure is still overlapping and corrective in nature.
Additionally, price has slipped beneath the initial micro support that was preserving short-term bullish structure. That breakdown diminishes the strength of the upside case and tilts probabilities toward another sweep of the range lows before any meaningful directional expansion occurs.
