Wave ((X)) pullback is in progress and is taking the form of a double three i.e. (W)-(X)-(Y) Elliott wave structure. Wave (W) ended at 19665, wave (X) took the form of a FLAT (3-3-5 structure) and completed at 19820. Wave (Y) is now in progress and is expected to end at 18805 – 19045 area to complete wave ((X)). Although the Index has reached equal leg of (W) and (X) at 19194, further low towards 19045 (1.236 extension) to complete wave ((X)) can’t be ruled out. We expect to see buyers from 18805 – 19045 area for a 3 waves reaction higher at minimum as per Elliott Wave hedging idea. We don’t like selling the Index in proposed push lower.
At EWF we offer 24 hour coverage of 41 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. Click for 14 day Trial