Wave summary:
Nothing new to add here. The sideways correction in wave iv continues to unfold. Ideally, we will see a spike lower to 126.87 in an expanded flat correction, but this sideways consolidation could as easily turn into a triangle consolidation limiting the downside to 127.41.
Once this sideways consolidation is complete a new impulsive rally higher towards at least 130.13 is expected.
R3: 130.13
R2: 129.30
R1: 128.89
Pivot: 128.50
S1: 128.28
S2: 127.81
S3: 127.41
Trading recommendation:
We are looking for a new buying opportunity near 127.00
