Hello Traders,
HS made a low on October 5,at 23681.44 and start a 5-up to 26234. This could be a wave 1 and the following correction a wave 2 or a part of wave 2!
So, from this view, the „Mob“-level is at the low 23681. A break of this low will open the door to 211xx area!
But if HS is able to rise, in an impulsive move, above 26234 it has the chance to extend to 28892 at minimum. At this level, it could touch the range of the wave b/x high at 29394!
A decline below 24259-24206 on a daily close will eliminate this count!
After a two-years lasting bear market, HS has a long way to go, to return into a bull market. Right now, the odds are not given. So any counter trend move to the upside is one in a bear market! Watch this!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
HS made a low on October 5,at 23681.44 and start a 5-up to 26234. This could be a wave 1 and the following correction a wave 2 or a part of wave 2!
So, from this view, the „Mob“-level is at the low 23681. A break of this low will open the door to 211xx area!
But if HS is able to rise, in an impulsive move, above 26234 it has the chance to extend to 28892 at minimum. At this level, it could touch the range of the wave b/x high at 29394!
A decline below 24259-24206 on a daily close will eliminate this count!
After a two-years lasting bear market, HS has a long way to go, to return into a bull market. Right now, the odds are not given. So any counter trend move to the upside is one in a bear market! Watch this!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!