Elliott Wave: Further Downside Looming For IBEX?

TVC:IBEX35   IBEX 35 Index
Hello Traders,

IBEX short-term Elliott wave view suggests that a decline to 8850.20 low ended red wave A of a zigzag structure. The internals of that decline unfolded as 5 waves impulse structure where black wave ((i)) ended at 9471.20 low. Black wave ((ii)) ended in 3 swings at 9542.80 high. Black wave (( iii )) ended in lesser degree 5 waves at 8971.30 low. Then black wave ((iv)) bounce ended at 9120.80 high and black wave ((v)) ended at 8850.20 low.

Up from there, the index made a 3 wave bounce to 9141.92 high & ended red wave B in lesser degree zigzag structure. Where black wave ((a)) ended at 9021.10. Black wave ((b)) ended at 8986.80 low. And black wave ((c)) at 9141.92 high.

Down from there, the index has made new lows already confirming the next extension lower in red wave C and creating a short-term bearish sequence from 9/21/2018 peak. Where a decline to 8639.70 low ended black wave ((i)) of C. Near-term, while below 8885 but more importantly below 9141.92 high we expect more downside to follow. We don’t like buying it as the right side is to the downside.
Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more. Free 14 days trial --> https://elliottwave-forecast.com/amember/go.php?r=7975&i=l3
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out