Few days ago, the impulsive wave (v) headed straight to the lower side and is now pulling back to the upperside. We expect the upward rally that is currently happening to be the unfolding of a corrective three wave cycle and should break above 304.17, if this is the case, then we’ll expect further momentum to the upperside. This view can only be invalidated in case the price rebound from 304.17, if this is the case, then a momentum to the lowerside is expected. With this downward position, a break below 181.45 is necessary to confirm we’re still downwards.
we’re in a corrective mode
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All bonus participates in drawdown!
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