Bridgin' the gapBEL 20 looks like it's gonna fil the gap and if it can keep the 200 MA a new ATH is in the making. Let's go!
(RSI is bullish above 50%)
*DISCLAIMER* This idea is only for the purpose of sharing ideas -> NOT investment advice,
any feedback from aspiring traders and experts are more than welcome.
A
BEL20 - finishing minor 2 up, next move is downwardsBel20 continues on its way down to new lows. In the shorter term view, it is ending minor wave 2 soon. After this, the next move should be minor 3, where the most probable target is is below 3,000. If prices crosses up 3,570, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
BEL20 - reaching the end of counter trend rallyBEL20 is reaching the most probable target for wave 2 counter trend rally at 0.618 of retracement of wave 1. The wave count for wave C that will complete primary wave 2 is almost complete. The possible target is at 3,518 before the trend turns down in direction to new lows , but it does not need to
Short BEL 20 indexAs seen there is a historical low resistance level @3123.7, and a fibonacci ratio of 0.382 @3091.265
I've tried to draw the small bullish trendline which will be colliding with these very soon.
This might indicate an end of this short term increase and a fallback to the bearish trend known as the C
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Displays a symbol's price movements over previous years to identify recurring trends.
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Frequently Asked Questions
BEL 20 is just a number that lets you track performance of the instruments comprising the index, so you can't invest in it directly. But you can buy BEL 20 futures or funds or invest in its components.