After the 12.5% price decline, from 4810 to 4211, ES hit the support of the measured move going from the beginning of March 2021 to the days of Santa rally. Now, ES is going up again, having resistance the zone between 4500-4600. If ES breaks the resistance, we could see new ATHs around 5k before next March, when it is supposed that interest rates will increase....
After reaching the 36k target (long term support), BTC should go up at least to the area between 52-56. If BTC breaks the 56k resistance, we may see new ATH at ~83k.
Last Friday, BTC had the zone between 48-42k as support. This zone corresponded to the HWB of the measured move started last July. After breaking this support, it is necessary that BTC revisits the one going between 36-29 to gain momentum and make new ATHs
ES reached its target price last Friday. Now, correction days are coming till the zone between 4510-4460. After the correction, the next target price is 4800.
After completing its target las Friday, it is necessary that this stock market has a correction. This is expected to happen till the zone between 15500-15300.
Will visit 14300 if the bearish trend continues. This coincide with Fibo retracement as well as with the uptrend of last months. If Fibbo support breaks, everything is going to mess up.
Since last February, Hang Seng is been oscillating around 31k. You can further check my analysis in my blog for this market and others in myintradayportfolio.blogspot.com
Hi guys,
we have watched the trend reversal in NASDAQ and in other stock markets. This bearish trend may continue. In my plot, the candlestick has already holed the SMA for 50 days. MACD lines are diverging (not shown, but graphed in my broker) and the cross of SMA 20 days and SMA 50 days is almost to happen, which could confirm bearish trend. RSI is going down...
Just watch the graphs and get your own conclusions. In my opinion, MAS are almost to change their trend (downwards) and this could confirm the bearish market.
