3-Hour Chart
Tadawul All Share (TASI) on a 3-hour chart shows a bullish correction which has a status of either a correction subwave within the bearish momentum C wave (plotted with an aqua line) or the 4th correction wave. If the bulls dominate on the market, this wave's status may grow into a new momentum A wave on 3-hour chart of a new short-term trend.
15-Minute Chart
If we switch to a smaller 15-minute chart, we will see the situation on daily and intraday levels. M15 shows us a momentum A wave up (drawn with an orange line) that was building during the last 4 days. Today we have a bearish B correction started.
5-Minute Chart
A junior 5-minute time frame allows us to understand that the orange B correction on M15 may have an inner structure of 3 waves at least on a smaller M5 time frame. Now we see formation of a complex bullish B on M5 in progress that might be followed by a C bearish impulse wave.