Review:
Let's review the key points of the previous update (Feb 2nd):
Update:
Analysis of the Structure:
Wave b of W of (B) developed and completed as a triangle. We have now started wave c of W.
Analysis of the Cycles:
February 20th was a 20D cycle trough and now we are in the second 20D cycle of the second 40D cycle of the second 80D cycle of first 20W cycle of the current 40W cycle. This means we are going to have 3 weeks of extreme bearishness ahead going into a 20W trough.
The 80D cycle FLD has generated a downside target of 168.94 to 170.84 for the upcoming trough in March. This trough is expected in the range of March 8th to 23rd.
Let's review the key points of the previous update (Feb 2nd):
- We have completed the bullish phase that was started in January 2023 (wave (A)) and now we are correcting that whole move (wave (B)).
- Wave (B) developing as a double zigzag, and now we are in wave b of W of (B).
- We got a cross of the upward 40W cycle VTL, which means the peak of the current 18M cycle is already in.
- 20W FLD downside target: 171.6.
- 20W trough expected: last 2 weeks of March.
- 40W cycle trough expected in July.
Update:
Analysis of the Structure:
Wave b of W of (B) developed and completed as a triangle. We have now started wave c of W.
Analysis of the Cycles:
February 20th was a 20D cycle trough and now we are in the second 20D cycle of the second 40D cycle of the second 80D cycle of first 20W cycle of the current 40W cycle. This means we are going to have 3 weeks of extreme bearishness ahead going into a 20W trough.
The 80D cycle FLD has generated a downside target of 168.94 to 170.84 for the upcoming trough in March. This trough is expected in the range of March 8th to 23rd.
