While the price is above the support 1705.700, resumption of uptrend is expected. We make sure when the resistance at 2910.700 breaks. If the support at 1705.700 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
A trough is formed in daily chart at 1719.100 on 07/20/2021, so more gains to resistance(s) 2035.000, 2178.000, 2346.350 and maximum to Major Resistance (2910.700) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 48.
What's the chance that this is just a bull trap and will turn down in a day or two?
Looks like a wedge with a flat bottom. More down side expected IMO.
i also think that there will be a lot of movement of clients firing old advisors who are not delivering good service and moving more to fee-only or fee-based models where client service is a top priority.
Looks like a wedge with a flat bottom. More down side expected IMO.