Minor update on last report

Morning guys,

Unforunately it is impossible to combine weekly and lower time frames analysis here, so watch the video on our website, but shortly speaking - here on 4H chart I've tried to combined our
view on nearest perspective. As you know we keep an eye on possible H&S pattern on daily/intraday charts and its potential target around 6500-6600 area in a way of AB=CD action.
This scenario also is confirmed by what we see on weekly.

Meantime, although some upside bounce has happened, on Friday, market has not quite reached 8300 area, where we suggest the top of right arm should be.
As market stands at strong daily K-support, we think that chances on another leg us still exist, thus maybe "222" Sell will be formed and then major downside action will start.

Thus our suggestion for the bulls is to sit on the hands and wait for 6500 area, for bears - try to take position as close to 8300 as possible, but avoid fast upside action. Any upward thrusting action means no bearish positions.

But overall setup is still valid and it is still the same as last week.