The correction is done
Elliott- thats a zig zag corrective pattern on the 4hr chart. C leg is complete. Hence new five wave should begin from here.
Fib- the extension is indicating the 495 and 475 as strong support. The counter reversed from 495. Fib confluence is at 500 and then 466. Hence any dip to 466 will be a welcome opportunity.
Conclusion- zig zag is a bullish corrective pattern and fibs and RSI are indicating support. Hence to me this is a welcome correction.
Fib- the extension is indicating the 495 and 475 as strong support. The counter reversed from 495. Fib confluence is at 500 and then 466. Hence any dip to 466 will be a welcome opportunity.
Conclusion- zig zag is a bullish corrective pattern and fibs and RSI are indicating support. Hence to me this is a welcome correction.
Penafian
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