The trading day began as expected, with active pressure on the price. Surprised buyers allowed the index's value to fall considerably, but they subsequently regrouped and began gradually reclaiming lost ground, manifesting on the chart as a long spike.
It is possible that this quick formation represents Wave 3 of the presumed downward impulse, after which the price initiated a corrective rise. If this is indeed the case, we may see a continuation of the upward movement in the near term. However, significant growth is unlikely, as this rise is likely part of Wave 4.
The expected movement for the near future is schematically indicated on the chart. In this situation, cautious buying with a modest target is recommended.
Investment idea: BUY 17690, SL 17000, TP 18100.
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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