five waves and then a good rally … Then what next ? As per the theorists the market may make a move to 18250-18400 or it may move down from here or may become trading range 16800- 17800 for the next whole year
Comment:
long only after 17948 till then market is in bearish mode .... todays buying can be seen as the power move into the resistance which may make a trap and then selling to new low... hence be cautious....
Comment:
market made the break out to 18000 levels but the break out is not clear as the breakout is gap up movement. Hence this may fail. avoid long positions