Weird. I am not sure if I am missing something here or not, but I can't make an impulse (5 waves down) out of this current move down. It has to be a WXY for red wave A.
What this implies is, that we are in an impulse wave up (yellow wave 1 or yellow wave A). From the current view of this chart I cannot derive any new low below 5770 in the short-term. I think we are going up now for at least a big ABC pattern (target zone 7300-8000$).
This is good news... stay tuned...
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