FKLI completed 5 waves of downtrend, assuming a bounce for the correction stage if it stay above yesterday's low 1665.5
Comment:
As mentioned above, we assumed a bounce after the completion of 5 waves, FKLI formed a pennant in hourly chart today, break out of the pennant may bring the index to go higher, first targeting around level 1714.
Try to catch the breakout with minimal stop loss at previous "higher low".
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Try to catch the breakout with minimal stop loss at previous "higher low".