IBEX: Elliottwave Structure suggests Index is in correction

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 1, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Short term Elliottwave structure suggests cycle from 11/4 peak ended with wave (3) at 7862.8 and the Index is in wave (4) bounce to correct decline from 11/4 peak. Internal of wave (4) is unfolding as a double three where wave (W) ended at 8478.9, and wave (X) ended at 7967.88. While above 7967.88, Index has scope to do another leg higher in wave (Y) towards 8585.89 - 8731.19 area to complete wave (4) before the decline resumes. We don't like buying the proposed bounce and expect sellers to

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