![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSYKn2iUnbLaOpp7KCJlmlb2UhY6c-vUV8jrIGDlZDDwLR4hnBIyDrn4PjtYxBeTr7ByPh7i8ay6WRqCDTnugj8wV2YqhhxmcjIeTe8sLLw9MpthAYVAFXiIjbLmA7b21lZfMse-qIf9Pc/s400/image002.gif)
The big picture show that we are in a A-B-C correction, where wave C was equal to wave A at 121.79 (the lowest point have been 120.93). We can see a clear five wave decline in wave [C], therefore we could have seen a long term bottom.
Zooming in on the daily chart. We see a clear divergence on both indicatores, which is a warning that a bottom could in place or is close at hand, but to confirm the bottom we need a break above 124.70 and more importantly a break above 126.46.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFRLO3nWRwRJCDFwV-NmJVnx9MHzdLw-NOCAgVhg8xhgd2wWD4gI1RW73VK9XW_1_PbMPGcSBmkanrntLNvM7-gUbx54rkAnGcpCMHsH1qK-4rkKQhOBzTUPL7swYd4uvyzejL7skPwDYp/s400/image002.gif)
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