Hello Traders,
N50 has failed to make a new ATH this week. Monday's high was at 15895.75, just 6 points below the high from June 21!
The move from the possible wave c of 4 low is clearly a „three-up“! So, either a corrective move or a double 1-2?
For short term trading it needs a rise above 15895.75 to stay bullish, and as long N50 is rising within the bullish trend channel, the focus is to the upside!
A decline below 15674.95 level (red arrow) would open the door to 15600 level and below to 15500-15450 zone! A decline below the lower boundary of the channel could signal the end of a wave 3 move!
Note the little differing alt view at the daily chart!
Have a great weekend.....
Ruebennase
Feel free to ask anytime!
Trading this analysis is at your own risk!
*grey arrow means--> not my favorite
*blue arrow means--> my favorite
N50 has failed to make a new ATH this week. Monday's high was at 15895.75, just 6 points below the high from June 21!
The move from the possible wave c of 4 low is clearly a „three-up“! So, either a corrective move or a double 1-2?
For short term trading it needs a rise above 15895.75 to stay bullish, and as long N50 is rising within the bullish trend channel, the focus is to the upside!
A decline below 15674.95 level (red arrow) would open the door to 15600 level and below to 15500-15450 zone! A decline below the lower boundary of the channel could signal the end of a wave 3 move!
Note the little differing alt view at the daily chart!
Have a great weekend.....
Ruebennase
Feel free to ask anytime!
Trading this analysis is at your own risk!
*grey arrow means--> not my favorite
*blue arrow means--> my favorite