Bel20 continues on its way down to new lows. In the shorter term view, it is ending minor wave 2 soon. After this, the next move should be minor 3, where the most probable target is is below 3,000. If prices crosses up 3,570, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
Breaking support now retest and finding resistance.
It's not over yet....
Watch July being a bloody month.
Target @ 1950.
( MACD not yet oversold having a dump towards that target would put it in oversold )
Just speculative not financial advise.
Here you can see a little comparison of the bel20 with the DOW30 & CSI300.
The BEL20 is a lot corelated with the new york stock exchange.
With the shangai stock exchange, they have a different parcours to make.
BEL20 is reaching the most probable target for wave 2 counter trend rally at 0.618 of retracement of wave 1. The wave count for wave C that will complete primary wave 2 is almost complete. The possible target is at 3,518 before the trend turns down in direction to new lows , but it does not need to arrive at this level to do so. For more confirmation, a move below...
BEL20 completed an ABC pattern the culminated with the end of intermediate wave 4 down. We saw two minute waves already built and minute 3 is under way down. If this scenario persists the index should continue the fall to below 2300 points. FOLLOW SKYLINEPRO TO RECEIVE UPDATES.