So, bulls have manged to take control and make a stand, but it´s a long way to go back to a steady up-trend.
Analysis:
- Long-term down-trend resistance has been broken (good sign). - Falling wedge reversal pattern confirmed, so we can expect its target (11-12k approx.) at least. - As for medium-term, we need to step back to 2014 and see that a broken long-term resistance isn't victory. The target (if reached) will be a good moment to review T.A. - Waves analysis indicates a 5 impulse almost ending, so we can expect some pullback.