The revised short-term Elliott Wave view suggests the decline from wave (W) at 141.05 is unfolding in the way of a FLAT A-B-C where wave A ended at 137.97, wave B ended at 140.67, and wave C of (X) is in progress as 5 waves and can reach to as low as 136.84 – 137.6. The internal of wave C suggests wave ((i)) ended at 138.92, wave ((ii)) ended at 140.63, wave ((iii)) ended at 137.66, wave ((iv)) ended at 138.76, and wave ((v)) is currently in progress lower towards 136.84 – 137.6 to complete wave (X) pullback.
We don’t like selling the proposed wave ((v)) pullback. From 136.84 – 137.6 area, expect the pair to resume either to new high or at minimum bounce in 3 waves to correct the decline from 141.05 per Elliott Wave hedging idea.
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