Buyers eying a break above 735.22 | 25 April 2018

Wave Analysis

Yesterday, both the impulsive waves (v) and (c) extended significantly to the upper side and are still pretty much both on the daily and the 4 hour charts. Today and in the next few days, we expect a possible extension of both the impulsive waves and should break above the hourly resistance level 735.22. This being the case, we'll expect further rally towards 1000.00 or even higher. This view can only be invalidated in case the price rebounds from 736.22, this being the case, we'll expect the halt around 735.22 to have marked the end of both impulsive waves.

Trade Recommendations:

Remain long towards 735.22