July 25, 2016

Neowave analysis by Vivek Patil


strength sustaining above the 9-day range could invalidate ET argument. In such a case, the better label for last week’s pause would be “x”, which would turn post-Brexit rally into a Double.
And, on one higher degree, the entire post-Brexit rally consisting of the Double Combination would be considered as “a” leg of the larger 2nd Corrective which opened after Brexit.

All in all, watch the 9-day range as a crucial zone in the Expiry week
. Strength sustaining above the range would continue the rally, but top of “B” would be the next crucial level to determine the variation of Expanding Triangle applicable.

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