It could retest circa 1375/1411 area, as long as oil keeps on falling to 21-22 area and it stays there for a while.
Excess liquidity that Central Banks are inyecting to the system are generating this huge swings in all financial assets
• Impulse wave subdivide into 5 waves. In Figure 2, the impulse move is subdivided as 1, 2, 3, 4, 5in minor degree
• Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is ((i)), ((ii)), ((iii)), ((iv)), and ((v)) in minute degree.
• Wave 2 can’t retrace more than the beginning of wave 1
• Wave 3 can not be the shortest wave of the...