AEX : sideways 452 - 482, look for outbreak next week

Hi everyone, I get many questions about what is going to happen now, it is important to know that there is now a sideways movement going on between say 482 and 452. I now have to wait for an outbreak before I take a longer term position again (because I am not a day-trader).

In the hour chart there is a double top at 482, at the bottom the MA50 (orange line) has to be broken and the RSI in bear-market range (below 50) before we can speak of a clear short signal.

If the MA50 does provide support, a new attack can take place on 482, an overshoot to 530 is then equally possible since there is still a gap open which can be closed, but we are not yet there.

When you have a short position take into account a large stop loss above 530.

So now neutral, wait for a further signal;)

Regards,

TT

Comment:

Hi , MA50 provide support possible new attack on 482

Comment:

Hi , the patience of the shorters is being tested, the first cracks are visible, but still not clear, this morning there was an opening gap at 475, it is expected that it still has to be closed . Look for a clear breakthrough from MA50 for further decline

Comment:

Hi,
We are still in the sideways motion as previously predicted , 4 times resisted 482 , but the MA50 has provided support (this is now at 472) a very narrow range, an outbreak is imminent, patience will be rewarded, so pay attention !