Elliot Wave Theory and Fib Retracement leads us to the result, that the course of the index is in its fifth (motive) wave.
As the fifth wave can have 138% of the first wave this leads us to approximate 16.450 points.
At 16.540 points we find the fib retracement 138.2% - so this is probably the end of the fifth impulsive wave before we get an ABC correction.
The very long trend (green channel) coming from 1982! - is still intact, even when we get the correction.
As the fifth wave can have 138% of the first wave this leads us to approximate 16.450 points.
At 16.540 points we find the fib retracement 138.2% - so this is probably the end of the fifth impulsive wave before we get an ABC correction.
The very long trend (green channel) coming from 1982! - is still intact, even when we get the correction.