The sideways developing in the late stages :
On this intraday frame, it seems that sideways developing in a “Running triangle” is in its late stages. A triangle always occurs in the position prior to the final wave of the next larger degree sequence. In this case, it is occurring in Minute wave iv(circle), the wave prior to the final rally of Minor wave 5.
Based upon this concept, the outlook potentially remains bullish now against the 123.751, through the estimated target at 126.145, in anticipation of the final rally in Minute wave v(circle).