Here I have a trendline that was drawn from the bottom in 2009 until now. This trendline has been SUPPORT until 2011, then turned into major RESISTANCE until after the recovery from the BLACK SWAN Covid Crash. Now we are testing this trendline as support. I see us getting a bounce from here, getting rejected by the 200, then bouncing off the trendline again with a TARGET of approximately 5375 within a year timeframe.
Warren Buffett — 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'
Warren Buffett — 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'
Note
We have gotten a lovely bounce off of the trend line. Definitely have to watch all our positions while in this uncertain time.
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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.