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IFIX - losses ahead

By SkylinePro
Updated
FOLLOW SKYLINEPRO TO GET UPDATES. IFIX should be finishing minute wave 5 up of a minor C of a intermediate B corrective wave. In this scenario, the index should decrease 10 to 20% if this primary wave 4 is a triangle formation or should go below 1900, up to June 2020, if this formation is a zigzag ABC pattern.
Comment
The correction up has been extended more time then usual for this formation. IFIX is tracing a long intermediate B correction and it seems to be in its final leg up, tracing minor wave C. The most probable target would be at 2,790, after this it should start a long move down to levels lower the previous intermediate wave A.

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IFIX - one more leg up before reversal to downside
brasilbrazilElliott WaveFIIfundoimobiliarioIFIXindexIndicesreitreitsTrend Analysis
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