I have relooked the Wave Formation for HSI and trying to align it with Fibonacci Retracement level. In HSI wave formation, we can clearly see that it had broken 2x Fibonacci Retracement and touched the 3rd support. Initially, I was looking at the gradual formation of Wave B, but apparently, it just went pass the 2nd support 20,000 and drop near to 17,000. Initially, the formation looks like Wave C, but it needs to have a retracement at resistance level to be considered as one. At the moment, it is still missing in formation. Theoretically, this HSI is still in Wave A. The guesswork is now - whether it should have a technical rebound as shown in Wave B - looking for the resistance, before it plunges to Wave C.
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