XU100 is turkish largest 100 company stock exchange.
despite the higher XU100 index , Turkish equities seems too weak against USD.
another strong reverse possible from the bottom ? why not ? ^^
Some people have been pointing out to me that the Turkish stock market has been hitting all time highs consistently through 2021. However, this is only apparent when looking at Borsa Istanbul Index in Turkish Lira. Once you look at it in term of USD, it becomes quite clear that the opposite is true. The Turkish stock market has been hitting new lows consistently....
Turkish stock index BIST 100 seems like forming a reverse head and shoulders formation.
Target of this formation is first 88.500 which is the height of shoulder, and than 86.000 which is the height of head.
After completing this move, a great opportunity is to buy this index because prior to this correction, prices were around 120.000. For the last 20...
Expecting USDTRY to end correction around 4.80-5.00 and consolidate there for a while and start a new rally in 2019.
This is how trends works, never use straight lines or channels to forecast future of financial instruments. Trends are not linear, trends are exponential.
Tupras is makin rising wedge with treble top, with lower and lower volume , and falling and falling RSI (making bear flag alike)
A is .618 zone for the rising wedge also where I expect SMA 200 to be, B is .5 for A and C is 1.618 for A and B.
Expecting a bigger drop on long term.
USDTRY M30 chart ///
Looks like a pennant formation in M30 chart
If it works, it will try to break the price of 4.77 - 4.80 again.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
PS make sure you give me a like, If...
