Yesterday we saw a new decline to 1,581, which leaves us with a small five wave decline since the 1,609 high. That again argues for two possible scenarios. 1: that we are in a zig-zag correction, that should sent us down to 1,575, from where a new rally towards 1,636 should be seen.The second scenario will break below 1,575 clearly and indicate, that we are only in wave (iii) down and that we might have seen an important top at 1,609.
Time will tell....
Though I'm not good in looking or analyzing a graph yet I appreciate your post.
ReplyDeleteBy the way, this is my first time to visit your site and I find it very informative and has a lot of brilliant posts.
Lisa from Advanced Guitar Lessons