Wave ii appears to have completed an almost perfect 50% retrace to 1475 where it has so far met solid support.
1hr and 4hr StochRSI are simultaneously bottomed and charged for a move up into wave iii
As my wave i target 1515/1520 was not reached, this means wave i was very slightly shorter so I'm expecting a longer wave iii with a shorter wave iv up to the higher targets.
Although this does not seem to accommodate the probable resistance at 1543/ $250 so I wait to see how that plays out.
Whether this is in fact a correction up to II or is indeed wave 2 of a new bull trend remains to be seen once we complete the journey towards $270 / 1680cny
1hr and 4hr StochRSI are simultaneously bottomed and charged for a move up into wave iii
As my wave i target 1515/1520 was not reached, this means wave i was very slightly shorter so I'm expecting a longer wave iii with a shorter wave iv up to the higher targets.
Although this does not seem to accommodate the probable resistance at 1543/ $250 so I wait to see how that plays out.
Whether this is in fact a correction up to II or is indeed wave 2 of a new bull trend remains to be seen once we complete the journey towards $270 / 1680cny