KSE-100 - Hourly Analysis - 27-10-2023

Sarfaraz Ahmad
Oct 27, 2023

Primary Structure: Bullish Impulsive

Primary Trend: Bullish

Current Wave structure: Potential pullback in blue wave "4".

Expectations: Now we can count five waves in blue wave "3" with fractals. The fifth wave already approached the ideal extension levels. We believe the index to slow down and consolidate minimum in three waves. Since we are expecting the consolidation in blue wave "4" it can apt any corrective structure, particularly the triangle. The ideal support level for this wave is 38.2 % Fibonacci retracement level which comes around the upper line of the base channel.

Previously :