TAIEXConsolidation range 21.496 - 21.879
Distribution phase
Resistance 21.942
As long as price can't breakout base price. And below 21.496
Price will retest 20.885
Market insights
TAIEX chasing the GAP areataiex by the price movement has formed right angled ascending broadening wedge pattern. taiex has a chance to move upside and reach the gap area 16.300
TAIEX finally oversold??by the price movement, TAIEX is moving bearish trend. the momentum indicator is pointing up near oversold. this indicates that TAIEX has a chance of chasing harmonic resistance area will be around 13.650 - 13.980
TAIEX rejected supportby the price movement, Taiex is moving no trend. we foresee that Taiex has the potentianl to chase the classis resistance area. the momentum indicator is pointing up near the oversold area. the indicates that taiex has a chance to chase the target resistance 15,475 and support area will be around 14,397
Taiex is still moving downtrendwe foresee that taiex is likely to chase the order block / harmonic resistance
minor resistance level at 14.812
support 13.985
BULLISH MOMENTUMTHIS IS MY BULLISH TREND CONTINUE IDEA. HOWEVER WAIT FOR COME KEY LEVEL AFTER HOW TO RESPECT TO KEY LEVEL AFTER TREND CONTINUE TO UP TREND YOU CAN ENTRY ,SO THIS IS MY OPINION ONLY .
TAIEX: Structured long term buy opportunity on Taiwan stocks.The Taiwan stock market is trading on a very standard long term 1M Channel Up which is currently neutral close to its median (RSI = 50.364). We see a very reliable buy signal pattern. Each Golden Cross (MA50 over MA200) has a distance of roughly 950 days from the Death Cross (opposite). The Death Cross comes to signal the end (or approaching) of the cycle's bottom. Based on that sequence we have calculated that to be around the end of July/ August 2019. We will be going long on TAIEX then with TP = 11,100 (1W Resistance).
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
