May 26, 2015


It is too early to say which scenario is playing out. This is just a road map how a bullish and bearish scenario should look like. We will watch how the move is developing and we will know what is going on.

More bullish(green) - wave 5 of the ED/wedge is running. All waves should be corrective, series of threes and when you project them we should see a low around 2085 +- several points and high around 2155 +- several points. Interesting is that 2155 is perfect touch of the upper trend line of the wedge(see the chart below).
More bearish(red) - if the ED/wedge is finished, we should see sharp move lower impulse and the first significant bounce should come at support and MA200 around 2040(see the chart below).

The daily chart.... the bears should move the prices sharply lower below MA50 and the lower trend line, if the wedge is not finished the price should make a low around MA 50 and the wedge trend line after a choppy week.

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