BEL 20 looks like it's gonna fil the gap and if it can keep the 200 MA a new ATH is in the making. Let's go!
(RSI is bullish above 50%)
*DISCLAIMER* This idea is only for the purpose of sharing ideas -> NOT investment advice,
any feedback from aspiring traders and experts are more than welcome.
Always keep in mind not to enter a trade to soon and remember to...
This is my bullish trend idea. However, wait for clear trend continue moment and wait for trend continue after can entry . This is my opinion, not for any signal service. Good luck.
Breaking support now retest and finding resistance.
It's not over yet....
Watch July being a bloody month.
Target @ 1950.
( MACD not yet oversold having a dump towards that target would put it in oversold )
Just speculative not financial advise.
Bel20 continues on its way down to new lows. In the shorter term view, it is ending minor wave 2 soon. After this, the next move should be minor 3, where the most probable target is is below 3,000. If prices crosses up 3,570, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
Here you can see a little comparison of the bel20 with the DOW30 & CSI300.
The BEL20 is a lot corelated with the new york stock exchange.
With the shangai stock exchange, they have a different parcours to make.
BEL20 is reaching the most probable target for wave 2 counter trend rally at 0.618 of retracement of wave 1. The wave count for wave C that will complete primary wave 2 is almost complete. The possible target is at 3,518 before the trend turns down in direction to new lows , but it does not need to arrive at this level to do so. For more confirmation, a move below...
As seen there is a historical low resistance level @3123.7, and a fibonacci ratio of 0.382 @3091.265
I've tried to draw the small bullish trendline which will be colliding with these very soon.
This might indicate an end of this short term increase and a fallback to the bearish trend known as the CoVid19 crash or atleast a long term battle trying to break through...
BEL20 completed an ABC pattern the culminated with the end of intermediate wave 4 down. We saw two minute waves already built and minute 3 is under way down. If this scenario persists the index should continue the fall to below 2300 points. FOLLOW SKYLINEPRO TO RECEIVE UPDATES.
EURONEXT:BEL20 Bel20 is currently tracing primary wave 3 down from a cycle wave c. It should gain momentum in this direction, although corrective upward moves will occur along the way.
The Belgian stock market is on an aggressive sell of since late April (1D RSI = 31.496, MACD = -58.680, Highs/Lows = -51.2357) after it failed to break the 3,870 - 3,910 1W Resistance Zone. The symmetry on a peculiar 1M Head and Shoulders pattern is uncanny so we will be using the 3,200 - 3,330 supply zone (red rectangle) as a continuous buy entry until the 1W...
