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There are two most probable scenarios for IBOV at this point:
1. Prices are tracing minute wave 5 up of minor C, where returns should increase to 78000-83000
2. If the index crosses the 72,300 support line, minor ABC zigzag completed a short intermediate B wave and price should decrease below 61,600
There are two most probable scenarios for IBOV at this point:
1. Prices are tracing minute wave 5 up of minor C, where returns should increase to 78000-83000
2. If the index crosses the 72,300 support line, minor ABC zigzag completed a short intermediate B wave and price should decrease below 61,600
Note
IBOV broke the resistance line that could indicate that minute wave 5 was developing. The most probable scenario after this is a triangle formation that will form intermediate wave B, as shown below
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.