BUX
The correction following the break of the uptrend retested nearly half of the last downtrend (146,875 is considered a key level), from which it reversed. This pattern could develop into a bearish trend-confirming formation. As long as the curve remains below the red downward trend lines, two downward corrective waves could play out, meaning we may still have one more downward wave ahead of us. The second wave should fall below 137,500 again.
Resistance levels: 146,875; 150,000; 153,125; 156,250.
Support levels: 137,500; 134,375; 131,250.
