There is little to say here. There is a diversion on MFI during the week, diversion on MFI and RSI on a daily basis and it has already won back and it is difficult to say for sure whether it will continue to move. Also, what is bought back from the PIVOT level, the wave counting is conditional. Long from 40 may be interesting, but not the safest.
There is a SPECULATIVE option. Reasoning on the topic.
We are seeing a corrective movement within expended flat or running flat to b-wave. Previously, there was a three down, then we have another three with an extended C. And now we can have both the end of C in 5 waves (running flat), and a departure below 20 and / or 13 (expended flat). For running flat, the problem is that we hit 40 before, it would be ideal there, but we are not far away.
You can also see the Wolfe wave. But on such timeframes it makes little sense. IMHO
There is a SPECULATIVE option. Reasoning on the topic.
We are seeing a corrective movement within expended flat or running flat to b-wave. Previously, there was a three down, then we have another three with an extended C. And now we can have both the end of C in 5 waves (running flat), and a departure below 20 and / or 13 (expended flat). For running flat, the problem is that we hit 40 before, it would be ideal there, but we are not far away.
You can also see the Wolfe wave. But on such timeframes it makes little sense. IMHO