Thin Volumes, Heading into historical resistance are, MACD already flashing Global risk landscape did not change significantly since the bottom Getting close to all time high - just about 5% off, the closer we get the more attractive risk reward shorts have What are the chances of breaking new highs during economic uncertainty and increased price for liquidity?
I do not believe the enthusiasm about positive trends is going to sustain, so looking to short around 400
Powerful comeback from the lows, yet the dominant trend and macro factors will prevail in the long run. Expecting pivot at around 400 in the zone marked with blue rectangular. Short any strength at or above 399 with a 420 stop.
Powerful comeback from the lows, yet the dominant trend and macro factors will prevail in the long run. Expecting pivot at around 400 in the zone marked with blue rectangular. Short any strength at or above 399 with a 420 stop.
Can still re-test the lows or go even lower, but retracement to ~440 +/- 20 is likely at some point
Fib retrace is likely, which will be a good opportunity to short.
The immediate downtrend is broken, but on the longer term chart there are some significant headwinds are also appearant in the short/medium term at the 93 area
If last low does not hold just follow the lower channel bound for entry opportunities. Not buying or selling on the median line.
Volatility is down on the index and Bollinger band is tightening around the price variance indicating a high volatility event before the 6th of May. My bias is towards the upside of 11404, but can be a break below 10620.
Very interesting line up of the 0.382 fib level going back all the way to 2007-2008 gloom and doom
There is a clear shift in economic powers. Further trade wars between US/China are likely to continue, which can put pressure on the PBC to weaken the Renminbi in order to be able to result in attractive export prices. At the same time the commodities link going to provide a downside buffer as the inflation expectations are on the rise worldwide due to central...
Pitchfork looks to work here, see if it climbs from here or retests the yellow critical level or some reds in between.
Good long entry looks to be around 6700 - 6750
Will be following this pair more closely how it reacts to channel bounds and crosses.
368.5 can become a short squeeze with violent burst towards the upside.
1.16150 looks to be a significant support, price is likely to fall towards that level till beginning of May, but the dominant trend looks still to be bullish.