AEX : bounce back target 462 - 482
Updated
Hi everyone,
From now on, I will discuss for the shorter term in the coming period to be able to do some driving. We see that after a consolidation (rectangle) there is now an outbreak for what to recover towards the outstanding gap around 482, this seems to be the maximum that can be achieved in the downward trend. This would also test the previously broken long-term support line. See that we are also back in the declining channel which will provide the direction for the coming weeks.
1. Continuation pattern rectangle: target 462
2. Back-test broken long-term support line / closing gap: 482
3. MA50: bullish
I explicitly state that there is still no long-term bottom and that we are recovering within the downturn!
Regards,
TT
From now on, I will discuss for the shorter term in the coming period to be able to do some driving. We see that after a consolidation (rectangle) there is now an outbreak for what to recover towards the outstanding gap around 482, this seems to be the maximum that can be achieved in the downward trend. This would also test the previously broken long-term support line. See that we are also back in the declining channel which will provide the direction for the coming weeks.
1. Continuation pattern rectangle: target 462
2. Back-test broken long-term support line / closing gap: 482
3. MA50: bullish
I explicitly state that there is still no long-term bottom and that we are recovering within the downturn!
Regards,
TT
Note
Hi, today the first target 462 has been reached, we are now exactly at the top of the descending channel which can form resistance, further the gap can pull at 482. Look forward to the RSI!Regards,
TT
Trade closed: target reached
Hi, second target 482 reached , gap is closed . Regards ,
TT
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