Quite likely, the formation of downward impulse in the wave [i] is completed. On the junior wave level, the fifth level is completed. In the short-term, beginning oа the growth in the upward wave impulse (a) is possible.
On the 1 hour chart the more detailed marks are shown. Supposedly, just before the wave v of (v) was completed and bullish impulse in the wave I was formed. Subsequently, when local correction will complete the growth in the wave iii of (iii) is possible.
Quite likely, that Pound wave (iv) is about to be completed. Earlier the elongation in the wave (iii) was completed, where the fifth wave were quite short. Further, the completion of correction and resuming of sliding in the wave (v) of [v] are possible.
On the 1 hour chart, the wave (iv) tries to form the double zigzag where the wave y is forming. Continuation of the local growth is possible during the day, but later bears could come back to the market and start sliding in the wave (v).
Supposedly, the horizontal triangle is being forming in the wave [iv] in the framework impulsive wave C. Probably, the current flat will continue in the next days, but further the resuming of sliding in the wave [v] of C is possible.
On the 1 hour chart the more detailed marks are shown. Quite likely, in possible triangle wave (c) the zigzag was completed. Further continuation of wave (d) of [iv] formation is possible.
Supposedly, the formation of diagonal triangle in the fifth wave has begun after the fourth wave was completed. In the nearest days, the resuming of market sliding in the wave [iii] of 5 is possible.
Upward impulse in the wave с is developing on the 1 hour chart, earlier the bullish wedge in the wave a was formed. In the short term, the further formation of bullish impulse in the wave с is possible, where the growth in the fifth wave is possible after the correction.
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