The Correction from 7003 reached 7050 before turning and breaking the up channel
7050 marks the 61.8% Fib from 7080-7003
The correction up unfolded as a double corrective structure. Since we have broken the channel and formed wave a of the larger wave Y at 7012 - looking to sell retracements in this leg up towards 7036-7041 which holds a confluence area of Fib levels and the bottom of the channel.
Conservative Targets fall at 6990 which is Daily Support
7050 marks the 61.8% Fib from 7080-7003
The correction up unfolded as a double corrective structure. Since we have broken the channel and formed wave a of the larger wave Y at 7012 - looking to sell retracements in this leg up towards 7036-7041 which holds a confluence area of Fib levels and the bottom of the channel.
Conservative Targets fall at 6990 which is Daily Support