Over the past 7 months, Stove Kraft has formed a corrective structure.
In the present, we see the price has experienced a corrective sub-wave 4 and is forming a sub-wave 5 of wave (C) of wave ((2)). Wave 5 is an ending diagonal in which the price is falling for the final wave v of the ending diagonal. Price has made an all-time high of 1133.7 and started correcting the impulse structure.
Wave C can be accomplished between 480 – 475. The diagonal can provide confirmation to traders.
If price breaks out wave iv at 616, traders can buy for the following targets: .
Otherwise, the price will continue to fall until it reaches a bottom.
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