AEX : 528 pulls like a magnet

Hi everyone,

After a weeklong side bump, today a breakthrough to higher levels is visible again. The open gap since 6/03/20 has an attractive effect that I think should be closed for the longer term, this is what the market is now aiming for, the MA50 has managed to stop the declines for the time being, leaving a 2nd short signal . You can also see the parallel lines in the RSI with support and resistors, this shows the strength of the market and it is too big for the time being. A ride to 528 can be done, but pay attention at the top, space is limited!

Regards ,

Comment: Hi, the gap at 528 has been closed resulting in a sharp drop, we have now arrived at a major intersection with MA50 and support line RSI, can again provide support, if not the 2nd short signal is there.


Are we still long, as the MA 50 broke
@CJ888, Hi, only breakthrough in the last hour, it will become clear on Monday, I will make an extensive new analysis tomorrow also with a daily chart (long term view)

Great job TT! I don't quite understand the part with how the RSI with support and resistors shows strength of the market? I was about to go short myself so would like to understand this:
TA-Vision Trading-Guru
@Trading-Guru, Hi, I mainly work with MA50 in combination with RSI, I noticed that when a breakthrough happened through the MA50, it got caught by the lines drawn in the RSI, these run perfectly parallel, don't ask me why, I noticed now . So a new short signal is a breakthrough for me through MA50 and through the line in the RSI!
TA-Vision Trading-Guru
@Trading-Guru, thanks for your comment ;)
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