Snippet taken from the weekends post


Whilst there are enough gyrations to argue for a possible end to the trend from 1236, its not really done anything to derail the current rally, holding above 1310 can still argue for a small triangle for wave iv, or possibly it develops a small ending diagonal for wave v (wedge). There is still scope for a move above 1330 to end wave [a] of the larger wave [y].

A break back under 1310 should be enough to support more weakness and suggest wave [b] was likely in progress. Any weakness for wave [b] should prove corrective and remain above 1236, that can offer a bullish opportunity for members that want to jump on the trend. Bullish above 1236.


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