ALIBABA Has Cycle Impulse Wave IV Ended?

The BABA formation currently hints at the construction of a cycle impulse wave.

Bearish correction IV is under development, which takes the form of a primary zigzag and consists of sub-waves Ⓐ-Ⓑ-Ⓒ.

Impulse wave Ⓐ and correction wave Ⓑ in this impulse look complete. Whilst wave Ⓒ is currently under construction.

It seems that the formation of the initial part of the last intermediate wave (5) has begun, which can complete the primary impulse Ⓒ near 163.87.

At that level, primary impulse waves of the zigzag tend to be equal.

An alternative shows that the cycle wave V is under construction. This takes the form of an ending diagonal of the primary degree.

Now we are in the final part of the primary corrective wave ④, which takes the form of an intermediate (A)-(B)-(C) zigzag. Its completion is possible at the support line near 210.93.

After reaching the specified mark, the market will begin to form the final intermediate (A)-(B)-(C) zigzag. The impulse wave (A) could end above the high of 274.51, which was marked by wave (B).

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