The volatility of the index continued to gradually subside, a sign of upcoming activity and strong directional movement. It is expected that the development of the corrective wave, taking the form of a converging horizontal triangle, is now being completed. This means that we will soon expect an impulsive rise, during which the final wave of the upward impulse will form.
After that, the price will change the direction of its movement by starting to decline. But this will happen after another upward wave, so for now we focus our attention on buying. Then it will be possible to start selling.
Investment idea: BUY 22750, SL 22600, TP 23500.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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