Hello Traders,
as per my latest analysis N50 gaped to the upside on July 12 and touched the price territory of wave 1. So a wave 4 pullback was off the table, it could be a new waves 1-2. The following decline to ~15645 area was a wave 2.
At the opening session on July 13 it gaped again to the upside and made it possible, that a wave 1 of 3 has started. In this move, N50 has broke above the former high at ~15915 area and is bouncing around this level. A sustainable break of this area to the upside would strengthen the odds for the idea!
This all was developing in a possible „triangle“ of a waves w-x-(a-b-c-d-e)-y structure!
A decline below 15519-15447 level should be a „normal“ setback within a wave 3 of one lower degree. Only a break of 15044 would void the bullish outlook.
Have a great Sunday.....
Ruebennase
Feel free to aks or comment!
Trading this analysis is at your own risk!
as per my latest analysis N50 gaped to the upside on July 12 and touched the price territory of wave 1. So a wave 4 pullback was off the table, it could be a new waves 1-2. The following decline to ~15645 area was a wave 2.
At the opening session on July 13 it gaped again to the upside and made it possible, that a wave 1 of 3 has started. In this move, N50 has broke above the former high at ~15915 area and is bouncing around this level. A sustainable break of this area to the upside would strengthen the odds for the idea!
This all was developing in a possible „triangle“ of a waves w-x-(a-b-c-d-e)-y structure!
A decline below 15519-15447 level should be a „normal“ setback within a wave 3 of one lower degree. Only a break of 15044 would void the bullish outlook.
Have a great Sunday.....
Ruebennase
Feel free to aks or comment!
Trading this analysis is at your own risk!