Hi Traders,
The SPI200 has reached its Time Turning Point which was scheduled for today (see vertical lines in he daily chart). If this analysis is correct, next leg with be downwards.
ELLIOTT WAVES
As I said on May 28th, the SPI200 is performing a Zig-Zag (daily chart) made of 3 or even 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).
TARGETS
likely: area 4600-4581
possible: 4455
maybe: 4320
monthly chart - click to enlarge
1-hour chart - click to enlarge
The SPI200 has reached its Time Turning Point which was scheduled for today (see vertical lines in he daily chart). If this analysis is correct, next leg with be downwards.
ELLIOTT WAVES
As I said on May 28th, the SPI200 is performing a Zig-Zag (daily chart) made of 3 or even 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).
TARGETS
likely: area 4600-4581
possible: 4455
maybe: 4320
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
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