The bearish move wasn’t that strong. Upside expected but...
Based on the wave count and the time phase proportional factors, we believe the the sub-5 waves of wave 1 of the intermediate phase has been over and as such we are heading for a possible 3rd wave.
Plus the resistance at 30,302 has been tested multiple times and thus it’s weaken.
Should it revert back lower, the possibility of an complex sub wave 2 is possible, and the buying/rebound zone will likely be at 28,000 region. As analyse at my previous few post.
Plus the resistance at 30,302 has been tested multiple times and thus it’s weaken.
Should it revert back lower, the possibility of an complex sub wave 2 is possible, and the buying/rebound zone will likely be at 28,000 region. As analyse at my previous few post.
Note
Wave 3 is considered invalid. We are now reverting to ending diagonal
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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.