Axis Banks seems to have topped out. The selling volumes seem to be picking up again similar to it's previous fall.
The support levels are likely to be broken on another retest and the stock may be headed for 450 levels over the coming year.
View stands invalidated on break of highs of 867
Now where have we seen this pattern before? Oh yeah most instruments. Now its time for the USD to top around these levels.
The ascending channel (in blue highlights) is indicative of corrective price action and most often bearish. If we had a descending
channel this pattern would not be complete. A strong downward trend is likely for the USDJPY.
Oil is likely in a broadening pennant topping pattern. But it does NOT look complete. I believe it will hit $93.23 there abouts
before turning down strongly and for the foreseeable future. The plan is simple wait for price to hit upper blue line. Sell!
New information is in and we can redraw the chart a little more. The premise though stays the same. It looks more like a topping pattern and the consolidation (blue arrow) we are encountering now looks remarkably similar to the left shoulder (blue arrow) consolidation. I suspect a strong move down after this consolidation phase. Good luck!
I think in the last month we are beginning to see certain sectors of the market starting to crash, mostly technology sectors, like TSLA, AMD, NVDA, INTC,...
You really don't have to be expert chart analyst to see that the whole stock market, especially technology sectors are extremely overvalued. It has never been anything like it, really for the past 90 years....
The SP500 index seems to have topped @ 4476. Technical analysis points to a sharper correction this time around:
- prices broke-out the long term bullish trendline
- short-term SMAs form an intersection above traded price
- short volumes are accelerating, as the daily range expands
- the new top formation saw the lowest traded volumes, signaling an ...
We need to close under the monthly dojis wick if we want to see further downside. Close the montly above the line and we see bulls send bitcoin to 58k before re-evaluation of trend. I am biased bearish as per usual. These tops take a long time to bottom.
Looking at the Total US Stock Market (VTI), we can see an obvious arching formation to the Covid-crater rebound, like the decaying upward trajectory of a thrown ball. This trend is characterized by short intervals of consolidation followed by breakouts that exert less upward momentum than the prior breakout. Each of those consolidation phases knocks the rebound's...
Hello this is only theory and nothing is sure but i believe we can reach this highs. Most of peoples didn't believe about $50k for march, now they don't believe for $200k and most of them told me here is top. It may be so, but most indicators show me that they are probably not right and the next 3 months will be crazy in price discovery.
After a slow period, Tesla is picking up speed again. Seems everyone was waiting the busy end of the week. For the EW count, price is looking to find the wave B top. Yesterday finished the small wave (b) as a double three corrective wave. Price action seems impulsive since. This would make the entire wave B a flat corrective wave. c waves in a flat are most...
What a crazy rally its been for oil since last November.
Just passed the .786 Fib level on the daily based on the highs of Jan 2020 and looks pretty solid growth wise.
Possible it can go to top of channel around 65.
Definitely been good for the OPEC cartel and the USA.
Maybe theres some cracks?
A lot of traders are pricing in a recovery already in travel and...
The last count was very bullish and was looking for a wave 3. This did not happen and the count was invalidated. The first adjustment in counting is that price wasn't finished with wave 2(circle) yet. In this count i am still looking for a wave 3(circle) up. Perhaps Biden will launch this rocket.
However, looking at how price has been in a contracting range for...
New weekly pivot on chart coming. monthly in the 16k region. all weekly and monthly targets getting hit except one in the 19k region. Large correction coming soon. Algos will react to these levels. Camarilla + cpr.