IBEX now sideways 2 hr chart. LEARN HOW TO COUNT WAVES AT THE BOTTOM

IBEX 2 hr. Here is the whole trend 145 periods. You see the clean double bottom and then the big first wave. We are now in the third wave on upside and it looks like topping out to me right now.

Remember that first wave is up, second is down, third is up, the fourth is down and then comes the final fifth wave where the trend is over unless there will be a three wave extension. Here the third wave is probably finished. The trend can stop here, then it is a three wave correction on upside.Otherwise the fourth wave will be built and then a new high will tell if the fifth wave is on its way. So the question is if this is the first wave on downside or the building of a fourth wave bottom.

Also look at the 8 bar bottom from right. You see a clear gap which must be closed for further advancement normally. But a gap can be open several days before closing by a new bar which covers the empty area.