Trendline analysis and Wave analysis perfectly complement each other here.
The breakout to the upside was followed with the classic pullback to the broken resistance.
It was wave (W) and (X). Another rally in wave Y is expected to kick-off to tag the former top of 13880.
There will be even more room to the upside to overthrow that peak as wave (W) was long and if wave (Y)
will be the same size than it will definitely fly over.
The map posted in November is still good (see related).
The breakout to the upside was followed with the classic pullback to the broken resistance.
It was wave (W) and (X). Another rally in wave Y is expected to kick-off to tag the former top of 13880.
There will be even more room to the upside to overthrow that peak as wave (W) was long and if wave (Y)
will be the same size than it will definitely fly over.
The map posted in November is still good (see related).
