Just a small follow-up on this mornings post (see below - Original post). The second zig-zag from 142.49 was formed by a sharp decline for wave A and wave C became an Ending Diagonal, with a nice throw-over or rightly a throw-under to end the final C-wave causing an sharp rally, which took out resistance at 140.90 without problems. We should see red wave i moving towards 141.65, from where a deep decline in red wave ii towards 140.74-140.93 before red wave iii kicks in for a move towards at least 141.90, but more likely 142.
Original post:
The roadmap I laid out yesterday for the short term price-action has been pretty much on the spot. The second zig-zag from 142.16 has become a little deeper, than my ideal target-area between 140.80-141, as we have reached 140.68, but that hasn't caused any damaged to the overall bullish picture. Only a break below 139.83 would harm the bullish picture and call for a much deeper decline.Looking at the micro count of the seconde zig-zag from 142.16, wave C has become and Ending Diagonal, which should be close to its terminal point. The final e wave can't break below 140.42, if my count is correct. A break abover 140.90 will confirm that the bottom is in and a rally above 142.49 and most likely 142.81 should follow.
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