On the 2-hour timeframe chart, an A-B-C correction is visible. The alternative count is visible as wave C has traveled more than 1.618% of wave A.
Sub-structure suggests that Index will form wave Y of the double three correction of wave (4) before starting march towards wave (5) of wave C. We may see 56,800 if sellers push the price down. To reach this level, the first pivot point is 58,000.
Note that a breakout will make it bullish instantly due to an all-time high breach.
We will update further information soon.
Sub-structure suggests that Index will form wave Y of the double three correction of wave (4) before starting march towards wave (5) of wave C. We may see 56,800 if sellers push the price down. To reach this level, the first pivot point is 58,000.
Note that a breakout will make it bullish instantly due to an all-time high breach.
We will update further information soon.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.