It is possbile to count five waves up on lower time frames to today's high. The move looks impulsive enough, as it is really really hard to count it as an ABC. So we will label it as first wave up, and wait for a correction to enter again. It should not exceed 15600-500 level.
Price is stalling bellow 16000, and MACD looks ready to curve down. There cannot be any certainty that the move is over, but 800+ points is not that bad and one has to wonder how much could there be left if it was to continue. So it seems prudent to step to the sidelines and wait for the new opportunity to present itself. The next move should be the strongest and longest so keep your powder dry.
Price is stalling bellow 16000, and MACD looks ready to curve down. There cannot be any certainty that the move is over, but 800+ points is not that bad and one has to wonder how much could there be left if it was to continue. So it seems prudent to step to the sidelines and wait for the new opportunity to present itself. The next move should be the strongest and longest so keep your powder dry.
