Hi Traders,
As I said on May 28th, the SPI200 is performing a Zig-Zag made of 3 or 5 waves. We've now completed wave 1 (downwards) as well wave 2 (upwards) of what it seems to be a typical 1-2-3 retracement wave (see daily chart). If this analysis is correct we will see another leg down.
TARGETS
likely: area 4600-4581
possible: 4455
maybe: 4320
monthly chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
As I said on May 28th, the SPI200 is performing a Zig-Zag made of 3 or 5 waves. We've now completed wave 1 (downwards) as well wave 2 (upwards) of what it seems to be a typical 1-2-3 retracement wave (see daily chart). If this analysis is correct we will see another leg down.
TARGETS
likely: area 4600-4581
possible: 4455
maybe: 4320
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
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