The Ichimoku has finally turned bearish with crosses forming the three death crosses. Furthermore, head and shoulder formation is pushing prices lower potentially to 236-238 support region.
Since completion of the double three corrective wave, the return of the bullish trend is ongoing with recent price action suggest that the inverted head and shoulder is likely to be confirm after Thursday strong bullish candle close. Ichimoku shows initial tenkan/kijun-sen crosses. Once kumo twist for the bulls. All is set for a bull run.
Ck Asset Holdings upside rally is still holding on after a strong break above the ascending triangle back in 29th December 2021. Despite a potential head and shoulder formation, we believe that prices will find support at 49.45-49.80, which is 2.43% change from the neckline resistance. Hence, we do believe that there could be a bear trap.
Symmetrical triangle formation hints a break to the upside after strong bullish momentum is confirmed by the Directional movement index. Furthermore, the breakout of the consolidation/ascending triangle confirms the bullish rally. Expect some short-term correction upon breaking the immediate resistance zone at 7.04-7.15. Buy limit at 6.86.
The downside corrective rout since Jan 2021 to July 2021 has come to a halt after prices consolidate from August 2021 to present. We may see an immediate upside break as the formation of the ascending triangle gave a very good hope. Either way, support zone 1 at 8.01-8.18 can be an alternative strong buying.
Sub-wave analysis suggest that China Petroleum is heading for a wave -4 correction to the nearest support zone at 3.91-3.96.
Since the breaking out of the descending triangle on 6th Jan 2022, the up trend is confirmed with the Ichimoku heading for a three bullish crossover. However, some weakness is observed at HK$60.90 immediate resistance thus we can take this opportunity to buy at support. DM+ is seen sloping upwards while DM- is seen sloping down below the Average directional index....
I would actually buy in now on the SPX 500 futures. But will be careful to look out for resistance level 1.
DAX has completed it's first round of the leading diagonal. Now it is embarking on a corrective flat. Target rebound at 14,165 region.
I’m still bullish on bank hence I’m gonna take a short term gamble on Goldman
I'm hoping for the best for Netflix, buying at the near bottom of the range!
Island reversal? Bearish evening star? oh well, just gonna wait for selling and rebuy it at the next lower support
Dow shows a complete sub-wave micro phase and currently, prices fails to close above 32,000 resistance indicate a possibility of further correction to 31,427 region before a rebound. However, the resistance zone highlighted in red is also a key. Should prices breaks above, then we will see a completion of wave (II) and prices will then forms the strong 3rd wave
So NIO rebounded last Friday and last night it rebounded as well. However, I have my reservation on NIO rallying up strongly unless it breaks my target resistance zone. However, I will still take a gamble on it.
Overall, Nasdaq is on the downtrend but I think it's just a correction. However, the ichimoku death cross mention previously is still ongoing and hence, I will short after the market rebound briefly.
General motor is showing strong bullish momentum as long as the two crucial support zone is well supported.
Dow's recovery in Asia set up a chance to short further.
Despite huge selling, there are few potential rebounds. So yea, the symmetrical triangle is still intact until broken. Not forgetting the resistance tested multiple times