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Elliott Forecast

Eric Morera

Elliott Wave View: IBEX Has Resumed Downside

March 4, 2022 By

Short Term Elliott Wave View in IBEX suggests the decline from November 1, 2021 peak is unfolding as a . Down from November 1, 2021 peak, wave (1) ended at 8082.4 and rally in wave (2) ended at 8912.20. The Index resumes lower in wave (3) which ended at 8048. The 1 hour chart below shows that move in wave (3) which subdivides in another 5 waves in smaller degree. Down from wave (2), wave 1 ended at 8266.9 and wave 2 ended at 8607.10. Wave 3 ended at 8061.2, wave 4 rally ended at 8254.10, and wave 5 lower ended at 8048.30 which completed wave (3).

Bounce in wave (4) ended at 8509.90 with internal subdivision as a zigzag. Up from wave (3), wave A ended at 8496.4, wave B ended at 8288.8, and wave C ended at 8510.61. Index has extended lower in wave (5). Down from wave (4), wave ((i)) ended at 8076.40 and rally in wave ((ii)) ended at 8370.80. Near term as far as pivot at 8510.61 stays intact, expect rally to fail in the sequence of 3, 7, or 11 swing for further downside. n of wave w which comes at 3629 – 3998.

IBEX 1 Hour Elliott Wave Chart

IBEX Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-ibex-resumed-downside/

#elliottwave #trading #ibex

04/03/2022 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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