As part of the retracement wave (2) is not yet completed and the rally that we are experiencing is all part of the sub wave B of the second wave unfolding. Lower targets is highly possible
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Market has pushed towards 0.618 level of retracement (64,xxx), we are now expecting a move down towards a possible retracement on a lower degree around 61k area or another push to lower levels (59,xxx) to complete the wave (c) of wave (2).
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Market has reached target areas for short term bearish price move. We are now looking for a bullish divergence to trigger the reversal towards higher degree bullish targets, please refer to higher degree analysis for long term targets.
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