CHXEUR:LHAD
Lufthansa touched today a significant Fibonacci level, the 0,382 of the previous 3rd wave. The time length of the correction is also eligible, so everything is given to begin its 5th wave. I should also mention, that the next (0,5) Fibonacci level is under the top of the 1st wave, so if it reached then the wave counting would prove incorrect because wave 4 would overlap wave 1 that is not allowed according to EW theory. The uptrend will be strengthened if the price crosses the red trend line upward. Price target is above the previous top, 31,12€.
Lufthansa touched today a significant Fibonacci level, the 0,382 of the previous 3rd wave. The time length of the correction is also eligible, so everything is given to begin its 5th wave. I should also mention, that the next (0,5) Fibonacci level is under the top of the 1st wave, so if it reached then the wave counting would prove incorrect because wave 4 would overlap wave 1 that is not allowed according to EW theory. The uptrend will be strengthened if the price crosses the red trend line upward. Price target is above the previous top, 31,12€.
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Here is the weekly chart with the primary wave counting
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LHAD declined further. If it breaches the 20,26 level the present wave label will be negated.
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LHAD declined further and it reached the 0,5 Fibo level. There is still room to reach the 0,618, but the indicators shows an imminent turn. I relabelled the chart and it seems that the top of the wave 1 was on 17 then came an expanded flat correction in 2014.