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Karachi 100

22 Aug 2017 ‚óŹ 05:51 AM

Karachi breaks the rising channel trendline for the entire rise since 2009, giving the first sign that a bull market may have ended. The 5th wave was truncated as it did not achieve its full potential at the upper end of the long term channel and that was a surprise. The chart shows wave C down starting for the current leg and the fall so far is in 5 waves down. Any pullback to the broken  trendline near 44000 should face selling pressure and we should head towards C=A near 38200 in the next move down.

karachi-220817

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