This is the bullish version of gold. Gold fell weekly without resistance. It will soon rise to create a short-term high, weekly resistance, which means weekly W-X-Y type corretion. The reason is that the upper peak cannot be broken in October because the upper peak is monthly resistance. Gold will make monthly support, which is the bottom low, and try to break the...
If EURGBP rebounds near the lows next week or rebounds without breaking, this type of correction can be done as shown in the chart.
The stock market may start rising next week due to expectations of further economic stimulus discussions at the end of September. Then, W-X-Y correction in the form of a weekly form like a chart may occur.
If the market breaks the highs next Monday and settles above this line, it is likely to rise again, meaning that it will make the lows weekly support. Weekly level A-B-C type corrections will be made.
From next week, EURGBP is likely to start rising C wave.
This is the trend of the 2nd version of SP500.
This is the second version of the NASDAQ.
Like the SP500, yesterday's rebound was weaker than expected. A correction may be made by buying the lows of the buying power. The market has not yet reached the point C target, so I expect it to fall once more.
The stock market's rebound yesterday was weaker than expected. A correction may be made by buying the lows of the buying power. The market has not yet reached the point C target, so I expect it to fall once more.
Although oil is a bull market, it is a scenario that rises after a correction in the form of w-x-y because the upper peak has a high possibility of monthly resistance.
If oil is a bull market, it could be this way. It seems to have been waiting for the stock market to rebound.
Look carefully at that red circle. Because it’s a place with potential.
Nasdaq can be a w-x-y correction if it can't break that blue downtrend and rebound.
But the chart says it will be down. If this is wrong, a larger correction will come out.
Nasdaq is showing a trend based on 1hr. It seems to tell the scale how much it will go down.
This analysis is a bullish perspective. It is not without the possibility. The reason is that it has settled above the last weekly support key level and that there is a potential for monthly support key level below the bottom. If oil is to maintain a bullish trend, it has to rise here.
Today it declines after correction. This week, of course, until next week's goal is reached...
The location can be wrong. However, the direction is no longer a lot of options. Maybe Gold is better prepared for next year. We also have to think ahead.