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Welcome to VitalFinance!

Technical Analysis

Publisher is the well known blogger and technical analyst "the smart goldfish" Ioannis Deligiannis.
We continue with the updated GI analysis published by Greenbull.

senarios

We will demonstrate the two basic scenarios which are expected and as the move evolves we will end up with one since at one point they are relatively close.

A. The correction completes retracement that is equal to the 50% of the whole upward movement from 2016-2017 at 660 units GI and 62% at 605 units. These levels are typical fibo retracement levels for wave 2 according to the Elliot theory and thus we can consider them as the end of the correction and probably the development of an upward reversal pattern and the beginning of the 3rd

B. In this pattern we expect the downward movement to continue to the 650-660 level of GI and then an upward move to the 750 territory until the end of the 2018. At the first half of the year we expect the conclusion of the 2nd wave quite lower than 600 level