Bears coming back | 07 March 2018

Wave Analysis:

During the previous trading day, the corrective wave (iv) could hardly break above 11619.93, rather, it rebounded from this level and is currently heading to the lower side. We expect this downward rally to be the unfolding of the impulsive wave (v) to the lower side and should not go beyond the 4 hour support seen at 4666.02. At the moment, to confirm the anticipated bearish price rally, we'll be waiting for a break below the immediate trend line, but if this level is not violated, chances of price shifting to the upper side are very high.

Trade Recommendation:

If you're short from 11619.93 remain short with an ultimate target at 4666.02

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.