Good day everyone,
It's clear now that we are almost done for ABC correction started on Dec 2017.
First scenario and this the most thinkable scenario is to bounce from the double bottom area this will need a good volume to break the hard resistances on the way i don't think it will take time to fly.
The second scenario is (C) wave will take us deep to 5000 & 4000 area looking for strong support to bounce from there.
The worst scenario would be to go more deeper (3000 area) and bounce from the uptrend that we have since 2016, But i don't think so.
This is not a trade advice.
Best wishes.
It's clear now that we are almost done for ABC correction started on Dec 2017.
First scenario and this the most thinkable scenario is to bounce from the double bottom area this will need a good volume to break the hard resistances on the way i don't think it will take time to fly.
The second scenario is (C) wave will take us deep to 5000 & 4000 area looking for strong support to bounce from there.
The worst scenario would be to go more deeper (3000 area) and bounce from the uptrend that we have since 2016, But i don't think so.
This is not a trade advice.
Best wishes.