the question is will it retrace from here towards 6650 level or will the momentum carry it towards 6830 and 6914.Since it has touched the major resistance at the 6790 level and returned to close below it.The other alternative is go side ways.You also mentioned the leg was 103 points which it has completed if I am not mistaken, does it mean it will return or go still further on?Your views......pls.
Dear Wizard I think I have blogged the expected. Unless It crosses/touches 6833.8 it may turn out to be the e-leg of the extracting triangle and would conclude the A-leg of the second corrective. If 6833.8 is crossed it will have much higher targets and we may have completed a correction before moving ahead. WWR
the question is will it retrace from here towards 6650 level or will the momentum carry it towards 6830 and 6914.Since it has touched the major resistance at the 6790 level and returned to close below it.The other alternative is go side ways.You also mentioned the leg was 103 points which it has completed if I am not mistaken, does it mean it will return or go still further on?Your views......pls.
ReplyDeleteDear Wizard
ReplyDeleteI think I have blogged the expected. Unless It crosses/touches 6833.8 it may turn out to be the e-leg of the extracting triangle and would conclude the A-leg of the second corrective. If 6833.8 is crossed it will have much higher targets and we may have completed a correction before moving ahead. WWR