Home Forex Analysis And Forecasts Nikkei: Elliott Wave Cycle analysis suggest Index is corecting 8/24 cycle

Nikkei: Elliott Wave Cycle analysis suggest Index is corecting 8/24 cycle

Revised short term Elliott Wave cycle suggests rally to 20060 ended wave (X). From this level, Index has turned lower in wave W with internal as a zigzag structure where wave (a) ended at 19395, wave (b) ended at 19840, and wave (c) lower is in progress as 5 waves. Near term, wave (c) of W is expected to complete at 19013 – 19170 area, then Index should bounce in wave X, ideally correcting 50 – 61.8 back of the decline from wave (X) high at 20066, before the decline resumes again.

Nikkei

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