The Bear has gone ? ( or waiting to pull the trigger? )
Since the outbreak of Coronavirus in March leading the global stock market plunge at an average of 30%, the global stock market has been making the best gain for 2 constructive quarter
But is this coming to an end ? Or are we already in the new bull market?
Right now the market is showing another rising wedge no matter which Bullish trendline we use
There was a small meltdown for tech stocks which lead to a pullback from the swing high but it has reversed and gone up again from the 0.236 Fibonacci level and we are back in the bull for now
In order to get out of the rising wedge situation, the market will have to break above the red upper trendline and there might soon be another new all-time high
But is this coming to an end ? Or are we already in the new bull market?
Right now the market is showing another rising wedge no matter which Bullish trendline we use
There was a small meltdown for tech stocks which lead to a pullback from the swing high but it has reversed and gone up again from the 0.236 Fibonacci level and we are back in the bull for now
In order to get out of the rising wedge situation, the market will have to break above the red upper trendline and there might soon be another new all-time high