In terms of the current market analysis, the final phase of wave 5 in the Elliot Wave pattern appears to be on the horizon, with indications suggesting that this wave may culminate through a blue-off top run in the days ahead. As per the Elliot Wave theory, the market may subsequently undergo an A, B, C pattern down.
It is important to exercise caution while evaluating the duration of this bearish phase, as it is still uncertain at this stage. However, it is predicted that this downward trend could continue until June or September of this year before any substantial rebound may occur. Consequently, it is not prudent to make definitive statements regarding the market outlook at this juncture.
With regards to the Red Zone Level, my primary Reference Point for the upward run is 13654.
It is important to exercise caution while evaluating the duration of this bearish phase, as it is still uncertain at this stage. However, it is predicted that this downward trend could continue until June or September of this year before any substantial rebound may occur. Consequently, it is not prudent to make definitive statements regarding the market outlook at this juncture.
With regards to the Red Zone Level, my primary Reference Point for the upward run is 13654.