Good thing we broke above the 39.4k level which was our green zone. The next level to break is this triangular pattern. Break and close above this triangle will trigger a bullish rally towards 46k. So far, all I can see is rejection. Let's wait for the daily close and see if this pattern breaks out. Do hit the like button if you like these short updates and share your views in the comment section.
@sweeezy, Thanks for your chart. Looks interesting. Upvoted
ferGOD
⋅
Another sign that Fed credibility is waning.
Yesterday, Fed Chairman Jerome Powell sought to reassure Americans that the series of interest rate hikes that the central bank is embarking on would not tip the U.S. economy into recession. The bond market promptly ignored those soothing words and the yield curve flattened. A flattening yield curve, whereby the positive gap between short-dated bonds and long-dated bonds is narrowing, is a sign that the market is anticipating slower economic growth. When the yield curve inverts, with long-dated yields below short-dated, it has historically been a signal that an economic recession is on the horizon. [read more]
prefabsprout
⋅
let's go back to the 37-38 for a wick first. maybe even a fakeout lower to steal some bear money.
Cryptorphic
⋅
@prefabsprout well, that can happen. Thanks for your feedback.