Primary Structure: Bullish Impulsive
Primary Trend: Bullish
Current Wave Structure: Potential Bullish Impulsive.
Expectations: The rise from the low can be counted in five bullish waves in black wave "1". That may be considered as trend reversal confirmation. We have witnessed a pullback in three waves in black wave "2" which successfully approached the 78.6% Fibonacci retracement level. The rise from its low is expected to unfold in five waves. We are trading in the middle of this bullish cycle. More gains are expected after a small pullback in wave "ii".
Recommendations: 3: Move stops to 27.5.
2; Hold the longs.
1: Longs may be considered from around 27 with stops below 22. Targets will be communicated with time.
Previously :
Previously :
Previously :
