Hi vsberlina,Your suggestion of another downward pointing...

Hi vsberlina,

Your suggestion of another downward pointing ellipse will occur when the lower bound of the ellipse is unable to provide support at 4010 -4050 region , but at this moment of time, there are no indications that the ellipse boundaries will be breached without a rebound from off these levels mentioned. Right at this moment, the ellipse shown appears to be the best fit ellipse, but I will refine the trajectory if there are any significant evidence of the ellipse changing, as that will mean my ellipse trajectory is wrong if prices do not follow the direction of the ellipse. This is not the case right now, as prices are moving within the ellipse rather well.

Thanks for your insights.

Regards

dascore