We have completed the 1.27 % of 9119 to 6825 move at 9709.
On weekly chat price normally corrects till 23% and continues the trend, from top 23% is at 9280. If we are going to continue the up trend then price will touch this level before continuing the up trend.
23% of move from 6825 to 9709 is at 9028 which is near previous structural top. Historical High was 9119 but Open was 8953 of weekly candle, hence same zone will work as support if price corrects more then 9280. In Fibonacci analysis whenever there is grouping of Fibonacci levels from different impulse moves the area becomes important. Such price levels are marked on chart.
In case of up move above 9709 ,9976 and 10250 are imp price points, 9976 is extremely imp because around the same level we will complete ABCD pattern which i have marked with Red line. With this analysis I am not trying to conclude that we are at top and market will fall from same point, intention of this analysis is to identify the important levels at which trades can take new trades or exit current trades. On weekly chart we don't have any zone in current area as price is above previous high. This is the reason this analysis is based on Fibonacci only.
For daily trend following dates are important, price reversals are expected around these dates.
6/7/2017 and 7/7/2017
20/7/2017 and 21/7/2017
31/7/2017 and 1/8/2017
Keep these dates marked on charts and observe the price action.
