After hitting 1.618 fib extension of wave ((i)) below 721.8 we are looking to the downside for wave ((iv)).
Possible target 0.236 fib retracement of wave ((iii)) in the span of previous wave (iv).
We are not excluding one more leg up above 721.8.
Possible target 0.236 fib retracement of wave ((iii)) in the span of previous wave (iv).
We are not excluding one more leg up above 721.8.
Note
Below 721.8 we allow wave ((iv)) to unfold, as a zigzag correction aiming for 0.382 fib retracement of wave ((iii)).
Note
Wave ((iv)) is still unfolding.
Bearish impulse wave (a) from 721.8 favors a continuation to the downside and a possible zigzag correction for wave ((iv)).
Above 575 we are looking to the upside in 3 waves for wave (b) and than a continuation to the downside for wave (c) to complete wave ((iv)).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.