The index is located in the area where I expect to change it’s medium-term trend. On the hourly chart we can see that the wave structure of the movement after the wave 1 or A (blue) is notuniquely identifiable. What is currently clear is that the price impulses are still upwards so the current trend is still bullish and we do not have sufficient grounds yet to assume that it is completed.
Currently looking at two scenarios:
1. Ending diagonal for wave C (red): in this development the uptrend ended last week (on the chart).
2. Flat correction for wave B (red), then finished 1, 2 and 3, wave 4 (green) is currently developing. In this count there is still one impulse in an upward direction to occur (in the graph).

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