Is the correction over?
one problem is that, it cannot be more than one zigzag wave in a combination. while in this case, the number is more than one, even three of them are all zigzags.
So if it's a exhausted 5th wave?
I think that
- from 9950 to 7000 that was a set of 9 wave(with 5th extention).
- now it's the corresponding retracement of that 9 wave.
- they are 1,2 wave of big C wave to 5000.
- stochrsi is overbought.
- 1D chart rsi(hlc3) is already 45, which is big resistance in such bear market.
conclusion: price may drop from 7800 hopefully.