Double top or bullish continuation?
im leaning towards the bearish case because the overall economy except of the us stock market is in a recession already. we have a bearish rsi divergence on the daily like in q1 2020 and a similar setup too (double top, in q1 the div was more significant).
we saw lots of inlaftion with rising markets. if the pendulum changes its direction we could see deflation with decreasing prices imo.
the dollar bled out already and could rally from here which would lead to all sell off in nearly all other markets.
The confirmation level for the bearish case (double top) is a close below the last support at around 3200.
double top educational video: youtube.com/watch?v=DCTQ9eOCGkQ&ab_channel=Trading212
im leaning towards the bearish case because the overall economy except of the us stock market is in a recession already. we have a bearish rsi divergence on the daily like in q1 2020 and a similar setup too (double top, in q1 the div was more significant).
we saw lots of inlaftion with rising markets. if the pendulum changes its direction we could see deflation with decreasing prices imo.
the dollar bled out already and could rally from here which would lead to all sell off in nearly all other markets.
The confirmation level for the bearish case (double top) is a close below the last support at around 3200.
double top educational video: youtube.com/watch?v=DCTQ9eOCGkQ&ab_channel=Trading212
Note
the time frames are to neglect
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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.