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As you can see on this time frame we have a bullish trend at 3 ascending waves from 28Nov till 1Dec and after that, we can see the price near the primary resistance zone is building a falling wedge pattern, this pattern can send the price up but I don't like to see this pattern bottom of the resistance zone !! I want to see this pattern above the support zone, so I don't care about this pattern.
so if we consider that 3 waves are one ascending wave at the upper time frame we need 1 correction wave for that and that price is 16500 this is my opinion what is yours?
if the price break the resistance zone this analysis become fails.
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price broke the resistance zone.
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