Hello everyone,
Back from a long vacation, and a lot has happened in the meantime.
After the index fell back below the neck line of 574, a major decline followed, also falling from the rising channel that had emerged at the beginning of this year. This is a negative long-term development. A falling trend channel is currently not visible because a lower top must first be formed for this and this has not yet been set.
Since the beginning of August, a sideways trend has been visible in the daily graph in the form of a rectangle (continuation pattern) between roughly 535 and 550. Positive divergence has occurred in the RSI, resulting in a temporary bottom at 535. We now have to wait for an outbreak from the rectangle to be able to determine a further direction, currently no clear long or short signal.
It is my intention to also post freqeunter when important developments continue.
Regards,
TT
Back from a long vacation, and a lot has happened in the meantime.
After the index fell back below the neck line of 574, a major decline followed, also falling from the rising channel that had emerged at the beginning of this year. This is a negative long-term development. A falling trend channel is currently not visible because a lower top must first be formed for this and this has not yet been set.
Since the beginning of August, a sideways trend has been visible in the daily graph in the form of a rectangle (continuation pattern) between roughly 535 and 550. Positive divergence has occurred in the RSI, resulting in a temporary bottom at 535. We now have to wait for an outbreak from the rectangle to be able to determine a further direction, currently no clear long or short signal.
It is my intention to also post freqeunter when important developments continue.
Regards,
TT
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.