Almost all equities markets around the globe are trading in strong bearish trend. The most important question is now when this bloodbath will stop ???
Lets Analyze the two important Index that are inversely related to one another.
DXY (Pic 3)
After a Breakout, the index is currently trading near the previous top. On weekly basis a Cup is formed and if we take the depth of cup, so it is equal to the upper boundary of channel (108-110)
The Gartley Pattern projection also indicates that top may be around 108-110.
The 108-110 is also 0.786 fib level from previous top (122) to low (71)
US100 (Pic 1 and 2)
The US100 made two rallies (longer time frame) till date
The first one was from Feb 2016-Sep2018 and Second was from March 2020-Dec 2021
In first rally the index retrace back to 0.50 fib level of whole rally and from there it took support. Now currently index will retrace to 0.50 fib level of this whole rally which is at 11700. So there is still -1200 points drop remaining.
The ABCD pattern on daily pattern also shows that bottom will be in 11600-11800.
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Lets Analyze the two important Index that are inversely related to one another.
DXY (Pic 3)
After a Breakout, the index is currently trading near the previous top. On weekly basis a Cup is formed and if we take the depth of cup, so it is equal to the upper boundary of channel (108-110)
The Gartley Pattern projection also indicates that top may be around 108-110.
The 108-110 is also 0.786 fib level from previous top (122) to low (71)
US100 (Pic 1 and 2)
The US100 made two rallies (longer time frame) till date
The first one was from Feb 2016-Sep2018 and Second was from March 2020-Dec 2021
In first rally the index retrace back to 0.50 fib level of whole rally and from there it took support. Now currently index will retrace to 0.50 fib level of this whole rally which is at 11700. So there is still -1200 points drop remaining.
The ABCD pattern on daily pattern also shows that bottom will be in 11600-11800.
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