With FED's rate hiking decision market just got a breath in short term and made best week since Nov 2020. Relief Rallies are so normal during bear market, And it doesn't mean pull back is over. Same relief happened in 2008 and indices finished year with 30% lost.
I was expecting this move because of the number of put options.
Similar technicals played out on Feb 2 (Vertical run with low volume, overbought indicators such as MACD, Stochastic and RSI
On 2 hours chart we can see a vertical rising wedge, 443,56 important point for trend.
427 for next week and 417 for end of the month.
I'm not a financial advisor and It's not an advice
Have a good weekends, folks
I was expecting this move because of the number of put options.
Similar technicals played out on Feb 2 (Vertical run with low volume, overbought indicators such as MACD, Stochastic and RSI
On 2 hours chart we can see a vertical rising wedge, 443,56 important point for trend.
427 for next week and 417 for end of the month.
I'm not a financial advisor and It's not an advice
Have a good weekends, folks