Welcome to VitalFinance!
Publisher is the well known blogger and technical analyst "the smart goldfish" Ioannis Deligiannis.
We continue this week with the updated GI analysis published by Greenbull.
Market seems to be in the 5th wave of an impulsive wave. Fifth wave is expected also to have a five wave formation and it has begun at November 2017. First wave completed at February of 2018 (196 points length) and wave 2 at the beginning of current month (129 points length in a typical and broadly expected 65% of the 1st wave). Inside of this wave is developing the 3rd wave of the 5th wave which is expected to bring GI to new highs. The critical characteristic is the “aggressiveness” that this wave must show as it’s developing, meaning that the speed of the upside must be at least the same of the 1st wave. The final target, before a serious mid-long term corrective movement take place, is around 1090-1120 points according to the data that we have now. It is important to notice, that we cannot still rule out to have an even more aggressive set up of the market and be still in a 3rd wave which will lead at least to 1250, but this is something that we will examine subsequently.