The corrective move in the BIST30 index, which began in July 2024, has completed the first two legs of a three-wave structure and is currently unfolding the final downward leg. While the overall pattern appears to be a classic flat (regular) correction, the possibility of it evolving into a WXY complex correction—albeit less likely—still remains valid. I anticipate that this correction will conclude with one final leg to the downside. Both time-based and price-based target levels have been marked. In my assessment, the likelihood of the correction ending within the initially identified support zone is higher than the probability of a deeper retracement.
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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.