From now on, I will discuss for the shorter term in the coming period to be able to do some driving. We see that after a consolidation (rectangle) there is now an outbreak for what to recover towards the outstanding gap around 482, this seems to be the maximum that can be achieved in the downward trend. This would also test the previously broken long-term support line. See that we are also back in the declining channel which will provide the direction for the coming weeks.
1. Continuation pattern rectangle: target 462 2. Back-test broken long-term support line / closing gap: 482 3. MA50: bullish
I explicitly state that there is still no long-term bottom and that we are recovering within the downturn!
Regards,
TT
Comment
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Hi, today the first target 462 has been reached, we are now exactly at the top of the descending channel which can form resistance, further the gap can pull at 482. Look forward to the RSI!
Of course the news is a trigger, it is now important to know that a quick recovery will no longer happen because the long-term increase since 2009 has now been done and we are now in a bear market.
CJ888
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@TA-Vision, wait, you don't expect a bounce back short term? Check my post, I was just poking fun of the trends.
OptionTraderNL
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hi,
Now that the trade is closed, any ideas towards AEX for the coming weeks?
TA-Vision
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@OptionTraderNL, When I see opportunities I will post them. Now it is neutral for a while, I expect a return test of 390 in the near future, but currently I don't have a short signal yet
Chaise
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Any idea on how low this will go in lets say 2 weeks?
TA-Vision
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@Chaise, no idea, time is not that important, rather looking at important price levels
azoffdonn
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Hey, question. If you don't mind me asking, how do you play these trades, turboshorts or puts?
Don't you think that the announcement of the partial lockdown on March 13th could explain the breaking of the support line?