$JSETFG - Foschini: Major Trend Change, EW Patterns Everywhere
See link below for previous analysis.
Foschini seems to have found a bottom at 8100.
The big bear market from 16688 has unfolded in a classic zig zag;
Wave (A) is a simple impulse.
Wave (B) is a running triangle.
Wave (C) is an ending diagonal.
The move from 8100 looks to be forming a leading diagonal.
After five waves are complete in the leading diagonal, I expect a three wave correction.
What is critical is for the correction not to breach 8100 which would invalidate the outlook.
Foschini seems to have found a bottom at 8100.
The big bear market from 16688 has unfolded in a classic zig zag;
Wave (A) is a simple impulse.
Wave (B) is a running triangle.
Wave (C) is an ending diagonal.
The move from 8100 looks to be forming a leading diagonal.
After five waves are complete in the leading diagonal, I expect a three wave correction.
What is critical is for the correction not to breach 8100 which would invalidate the outlook.
