BIST 100 resumes its decline - (B) might be completed

2021년 4월 22일

It seems like the (B) wave in the recent correction is completed at 1445.13 on April 6th, and it resumes its move to downwards to complete (C) wave. Based on A=C rule, the (C) wave might be expected to end at 1111.98 level, which also coincides with the starting level of the previous rally, which means a double bottom. From 1111.98, it might be expected to have at least 3 wave reaction to ongoing decline.

Breaking down 200 MA will be 1st confirmation and breaking down 1256.32 (A) will be 2nd confirmation.