TA-Vision
Long

AEX : 528 pulls like a magnet

EURONEXT:AEX   AEX Index
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 ,

TT
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.


Comments

Are we still long, as the MA 50 broke
Reply
@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)

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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:
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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!
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TA-Vision Trading-Guru
@Trading-Guru, thanks for your comment ;)
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