A relentless rise only interrupted by small correction has been the name of the game since November last year. I think we have seen the peak of wave 3/ at 22,419.52 and a more substantial correction is about to unfold in wave 4/.
I'm looking for a correction into the price range of wave iv of one lessor degree between 20,371 - 21,153. This should set the stage for the final rally higher in wave 5/ to complete the long-term rally from March 2009. As we enter the final rally, caution is advised.
As wave 2/ a double combination, I will be looking for a triangle consolidation in wave 4. This will mean the low of wave 4/ should be seen early in the correction.
I'm looking for a correction into the price range of wave iv of one lessor degree between 20,371 - 21,153. This should set the stage for the final rally higher in wave 5/ to complete the long-term rally from March 2009. As we enter the final rally, caution is advised.
As wave 2/ a double combination, I will be looking for a triangle consolidation in wave 4. This will mean the low of wave 4/ should be seen early in the correction.