Complex corrective pattern continues to develop and current missing wave is a part of wave B cycle to the upside.
Gap still has not been filled and there is a vast amount of SL
orders just above 8130 level so if triggered , market will surly go
higher to 8287 area. This might be first target for wave Y of wave B.
This scenario is valid as ling as the red trend line holds and there is no new low below 7659.
Please notice interesting market geometry level @ 8115.
7659 – Swing Low
7713 – WS1
7721 – 7761 – Trend Line Support
7875 – Weekly Pivot
7971 – 50%Fibo
8020 – WR1
8115 – W=Y and (a) =(b) geometry
8150 – 78%Fibo/Key Area to the futher upside
Buy as long as red trend line holds in anticipation that price will cover the GAP.