My last TA, with 2 versions, took the way. Quite exactly. But what will happen now .....
Yes, we had a quite interesting week behind us. A lot has happened.
Yes, yes. ..... , and more
This week played out soooooo good, new ATH , every dip was bought up immediately, as if there were no economic and global worries. But, there are plenty of problems. Economic data this week,....... partly very bad. Daimler, banks, steel industry. All weak.
Corona Virus: further, sometimes massively increasing infections, further extended mandatory breaks in many chinese factories and and and and.
But, the markets got their new ATHs. Crazy right? Yes, completely crazy. However, the FED, Repo, Chinese and panic buying are making these completely excessive market increases possible. It is clear that this cannot end very well in the long term view. As of next weeks, the repos will be reduced and China will not pump money endlessly into the markets.
I'm expecting an interesting next week.
The chart picture:
Interesting as well. We arrived at the blue at the top, .. we crossed it briefly today, but closed within at the end of the day. The black line is equally interesting. Based on two lows from 2016, today's high hits exactly this line.
Under "normal" circumstances a downmove would be expected. First goal, the red line, then down to the bottom line of the blue channel.
And I really expect this downmove, even under the manipulative interventions as described above. We may see a short fakeout to the upside, but in general, the downmove is no longer avoidable. So watch closely the news on the weekend, especially regarding the threatening Corona Virus.
As always, I will update this TA frequently. Trade on your own risk and trade safe.
My TA here just educational.
A Like and following makes me happy.
All the best and a good weekend,
uhhhh, Corona impacts the markets brutally, I expected bearish scenario, but not like this. We are near the first resistance in my chart. The red line. If we break this, we will go down to the bottom of the blue channel. And than it will get dangerous for the markets. Breaking this channel would mean a direct way into a big recession. 30 % fall might income.
All the best outside ta ya all,
Trade safe outside my Friends.
Yes, under bad circumstances, the corona virus. And this is sad and bad for the people dying and fighting with this virus.
But what will happen to the markets now?
I will do a new TA within the next hrs.