For longer term context, please se my attached analysis.
Second and finalABC to the downside corrected into the previous wave 4 and a just a touch from 0.500 retracement, wave A being equal to C. The washout should be over, and we should be targeting ATH in February. Needless to say, we would need a strong close today, and a nice fat green candle.
Break of 16300 level, on the other hand would signal a shift toward bear market.
Second and finalABC to the downside corrected into the previous wave 4 and a just a touch from 0.500 retracement, wave A being equal to C. The washout should be over, and we should be targeting ATH in February. Needless to say, we would need a strong close today, and a nice fat green candle.
Break of 16300 level, on the other hand would signal a shift toward bear market.
