An important bottom could be in place. Looking at the longer term picture (the upper chart) we are close to ending either major wave C or 3 and can at least expect a correction higher towards 138.34. A break above 127.78 would be first minor confirmation that the bottom is in place, while a break above 128.68 confirms the bottom for the rally towards 138.34.
The bottom - NOOOOOOT! :)
ReplyDeleteJust wave 1 of 5?
Hi Claudius
ReplyDeleteThat's a possibility, but a bigger correction will soon be seen no matter what count.
If this is only wave one risk is that wave two will be very big and correct a lot of wave one.
EWS