Based on measured move objectives there are a confluence of potential resistance areas to note just above where price currently resides. Above ~11280 with CONVICTION and ~12500 is the final target.
If you look at previous run up you can observe that it begins around 2003 with a no clear trend, but in the following years it tooks the shape of a rising wedge. The trendlines of this pattern expande, with both trendlines slanted in an upward direction. As the strength of the buyers weakens (exhibited by their inability to take the price higher), the sellers...
With rising global tensions in the Middle East and Eastern Europe the market is starting to turn it's attention to these events. In addition to an appreciating pound, rising gold, oil, and natural gas prices the equity markets are going to have a hard time to justify another run to new all time highs at this point in time.
Intel is meeting all of the requirements of a Bearish Crab pattern . The prediction of the D leg slams right into previous structure of monthly resistance of the wave II cycle at $34.34. Would make for a perfect PRZ. Also, If we could get some divergence on the RSI, that would make for a better confirmation . Let's see where price action takes...
CIX is always a nice counter mesure tool to confirm the direction of the indexes. The market was too overconfident and VIX was at its lowest level. But there are initial signs on a technical level that show clearly the reversal trend i.e VIX may move up, and indexes may move down. STOCH and MACD give the hint. We need to see a confirmation if it is just a...
Bearish deep crab. Target 1 at 14244.45 23% fib level. There is also strong support around X highlighted in red. If sellers can push through, I'll be looking for 12744.77 as my target 2 at the 38% fib level
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