A downward Elliot is clearly seen.
Day 1 (Monday) - we saw wave 1 on the downside
Day 2 (Tuesday) - started with the end of wave 1 and wave 2 rallied upside
Day 3 (Thursday) - Wave 3 movement on the downside
Day 4 (Friday) - Started with the end of wave 3 and wave 4 consolidated
Day 5 (Monday) - Wave 5
Expecting a flat opening or a slight gap up opening and markets can fall (wave 5)
17240 to be a strong support for reversal (Corrective waves to begin).
Day 1 (Monday) - we saw wave 1 on the downside
Day 2 (Tuesday) - started with the end of wave 1 and wave 2 rallied upside
Day 3 (Thursday) - Wave 3 movement on the downside
Day 4 (Friday) - Started with the end of wave 3 and wave 4 consolidated
Day 5 (Monday) - Wave 5
Expecting a flat opening or a slight gap up opening and markets can fall (wave 5)
17240 to be a strong support for reversal (Corrective waves to begin).