We are still in an internal WXY correction. Wave 2 is expected to go between the 0.5(7484.15) and 0.618(6374.01) of wave 1 (The whole swing from 2780 to 12180)
The channel is still holding. We have two connection points on each side which make it valid. The median line of the channel is acting as support at the moment
We have a strong structural Resistance Level around 9850. First Target for the latest swing @ 7834. Second Target @6862. The 200 daily EMA might offer some additional Support along with our first target.
Short term Bearish but BULLISH for the Long Term!!!
Start buying at The 50% Fib. Level of the Big Swing and continue to add to your position until 61.8% Fib Level.
The channel is still holding. We have two connection points on each side which make it valid. The median line of the channel is acting as support at the moment
We have a strong structural Resistance Level around 9850. First Target for the latest swing @ 7834. Second Target @6862. The 200 daily EMA might offer some additional Support along with our first target.
Short term Bearish but BULLISH for the Long Term!!!
Start buying at The 50% Fib. Level of the Big Swing and continue to add to your position until 61.8% Fib Level.
Trade active:
As you can see the trade is still valid.