The bullish count gained upper hand on Monday. This count calls for a continuation towards 1,200 and possibly 1,218. The last part of the rally has been a mess and that is not a good sign for the ongoing trend, but as long as the minor support line near 1,171 isn't broken we should keep looking for 1,200.
The now alternative Bearish count still shows the possibility of an topping pattern (Diamond). Ideally we need one more rally higher towards 1,191-1,191.50 before the pattern is complete. Again a break below 1,171 will be the trigger confirming the top.
The bullish count gained upper hand on Monday. This count calls for a continuation towards 1,200 and possibly 1,218. The last part of the rally has been a mess and that is not a good sign for the ongoing trend, but as long as the minor support line near 1,171 isn't broken we should keep looking for 1,200.
The now alternative Bearish count still shows the possibility of an topping pattern (Diamond). Ideally we need one more rally higher towards 1,191-1,191.50 before the pattern is complete. Again a break below 1,171 will be the trigger confirming the top.
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