There’s a downward three-wave price movement, which is likely a zigzag for wave ((c)) or ((y)). We’ve got a bearish diagonal in wave (a), so we could have an impulse in wave (c). If correct, the market will finish wave 4 in the short term. In this case, we should keep an eye on the 0.382 retracement level of wave 3 (1725.70) as a potential target. If a pullback from this level happens next, there’ll be a moment for wave 5 of (C) to begin.
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