SAZEW - H1/H4 Analysis - 05-03-2023

The rise from the low of Jan 2023  where seems an ugly picture it is impulsive in nature as an expanding leading diagonal with an elongated fifth wave. As per the rules, the assumption remains true if the price stays above the low of Jan 2023. The pullback after the diagonal has tested the ideal 61.8% Fibonacci retracement level successfully. It is highly probable to witness a strong bullish move from the current level. Our concern is the time consumption of this pullback. we expected more time consumption which may drag the price to hit the 78.6% level after the blue wave B.
If the price gives five bullish waves from the current level, black wave 2 may be considered to have finished.