The decline off the January 2018 low is shaped as ABC.
We are in the final leg C down.
The drop to 1,470 area may complete all of the Wave C down and consequently the whole correction off the top in January 2018.
Or it could be just the wave ( iii ) of that wave C. That scenario would imply a corrective pullback up in the wave ( iv ) up and then another drop to new lows in the wave ( v ) of C.
We are in the final leg C down.
The drop to 1,470 area may complete all of the Wave C down and consequently the whole correction off the top in January 2018.
Or it could be just the wave ( iii ) of that wave C. That scenario would imply a corrective pullback up in the wave ( iv ) up and then another drop to new lows in the wave ( v ) of C.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.