Just a quick update.
And still looking bearish.The reason-> still under the 50WMA, potential bear flag, thinking what's coming next week (again) some rate hikes probably 75bps (meaning negative for the markets).So you can see a bear flag. IF we go higher it's a little bit for me. the highest i see it goes,is around 4000 (also there we can see the 50ema, the up part of the flag and the fib 61.8°). If it's dropping and crossing the flag below, my next target will be around 3223 (that's the copy of the flag pole) also seeing on the left it's a support zone.
But for the moment the support trendline became a resistance trendline.
On the longer term i still believe we will revisiting the corona lows.
But that's my opinion and the time will tell
And still looking bearish.The reason-> still under the 50WMA, potential bear flag, thinking what's coming next week (again) some rate hikes probably 75bps (meaning negative for the markets).So you can see a bear flag. IF we go higher it's a little bit for me. the highest i see it goes,is around 4000 (also there we can see the 50ema, the up part of the flag and the fib 61.8°). If it's dropping and crossing the flag below, my next target will be around 3223 (that's the copy of the flag pole) also seeing on the left it's a support zone.
But for the moment the support trendline became a resistance trendline.
On the longer term i still believe we will revisiting the corona lows.
But that's my opinion and the time will tell
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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.