On the 1H timeframe, we see that the second half of the bullish impulse is currently under development.
The market has completed the development of the horizontal correction ④, which is a flat (A)-(B)-(C). Then the price started to move up.
We have seen the development of two small sub-waves (1) and (2) of intermediate degree, which are part of the primary fifth wave.
Thus, in the medium term, we expect the construction of the remaining intermediate sub-waves, which form the primary impulse ⑤, to the 180.22 area. At that level, wave ⑤ will be at 76.4% of primary impulse ③.
It is possible that the corrective wave ④ is not yet complete. Alternatively, we assume that it is a bearish (A)-(B)-(C) zigzag.
It is possible that the intermediate impulse (A) and the bullish zigzag correction (B) have come to an end. Thus, in the short term, we could see a bearish price move in the intermediate impulse (C) towards the 99.11 area.
At that level, primary correction ④ will be at 50% of primary impulse ③.
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