Short term Elliottwave structure suggests cycle from 11/4 peak ended with wave ((3)) at 7862.8 and the Index is in wave ((4)) bounce to correct decline from 11/4 peak. Internal of wave ((4)) is unfolding as a double three where wave (W) ended at 8478.9, and wave (X) ended at 7967.88. While above 8221.01, Index has scope to extend higher in wave ((4)) towards 8731.19 – 8911.79 area before the decline resumes. We don’t like buying the proposed push higher and expect sellers to appear from 8731.19 – 8911.79 (1.236 – 1.618 ext) area for at least 3 waves pullback.
At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offerBack