My bearish outlook for longer-term is maintained, but there's minor change from previous chart.
- Zigzag ABC corrective wave is still in progress since Dec. 2014 top.
- Formation of {A}-{B}-{C} is {impulse}-{expanded flat}-{ending diagonal}.
- As for short-term, RSI Failure swings and MACD crossover give buy signal.
- Short-term target: 121.3 (Fib retracement: (2)=0.382(1))
- Long-term target: 106 (Fib 0.786 retracement) or 104 (Fib 1.618 extension)
- Invalidation level is around 109.2 (the low of 24th Jun.: Brexit day).
- Zigzag ABC corrective wave is still in progress since Dec. 2014 top.
- Formation of {A}-{B}-{C} is {impulse}-{expanded flat}-{ending diagonal}.
- As for short-term, RSI Failure swings and MACD crossover give buy signal.
- Short-term target: 121.3 (Fib retracement: (2)=0.382(1))
- Long-term target: 106 (Fib 0.786 retracement) or 104 (Fib 1.618 extension)
- Invalidation level is around 109.2 (the low of 24th Jun.: Brexit day).
