My previous Ew Count is still in tact as long as we don't get a close above 1312...& if this is true then the next leg is very bearish (target c).
However it is always good to do an alternate count... and according to that it is possible that a new impulse wave structure has started; right now we are in a symmetrical triangle (which could be either the first or 4th corrective wave); implying that there is more upside..However if this does hold my 2nd area of support is between 1295-1301 (and if this does not hold) then we are definitely going down to 1260-70 levels...
Some considerations to support a bearish bias:
Usd index has been taking off the past couple of hours... (also aussie is faling from a cliff)
S&P500 and other us markets closed with a morning star today; we need to see a rebound and a close above the star for a confirmation that a rebound is around the corner.
Oil has completely negated the geo political tensions....
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