Hello Traders, at today`s session, N50 has achieved into the target range of 11666, the low was booked @ 11658.65. As per my count @ 11666 wave (C) is equal to wave (A). Interesting to know is, that the a/d-Ratio as of the past two days was @ 0.17 and 0.09 or in other words, for every one stock that was bought 7 and 11 stocks were sold! These are reading that have seldom been seen. The question is, ..“who still wants to sell when almost all have sold“? So short term a pullback is possible but not required. More bearish potential exists and the open target range as of my last analyze is at 11488-11460, where two Fibonacci levels are placed and one open gap has left at the chart. We will discuss every development here in the coming hours.
Have a great week.... ruebennase
Feel free to ask or comment. Trading this analyze is at your own risk!