Looking at 4HR, the market is on a downtrend as I see a sequence of impulses and corrections to the downside. The RSI is around 50, which indicates the market is correcting. After marking the low and applying trend line theory and fibo, I am able to say that:
a) The market is making the next impulse and might start correcting at the highlighted area
b) The market might go up to complete a bigger 123 before going down
a) The market is making the next impulse and might start correcting at the highlighted area
b) The market might go up to complete a bigger 123 before going down
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