Signs of bottoming in progress for COINBASE:BTCUSD with probable 1st objective at $5800. A break below 3190 with strong volume will falsify the analysis.
In addition, despite pull back, our proprietary FFI indicator is suggesting that price continues to experience fund inflow.
Analysis as stated on Chart.
TVC:NI225 is expected to re-test its distribution range low, which is also a previous support level at 20,400 level.
Supporting Claim for Downward Bias:
- Index Broke below its Uptrend Line (stride)
- Uptrend line has turned into resistance for index (Bearish)
- Experienced 2x Upthrust (Failure to maintain new high)
20,400 Level Objective based on:
After almost 2 years of consolidation . DAX is currently in Mark Down phase. Index broke a significant upward trend line last week. We will expect Mark Down continue towards 1st objective 9,800.
9,800 target was established based on:
- 2.168% Fibo projection
- Previous Resistance-turned-support
- Whole Number (Close to 10,000)
Charles Schwab (SCHW)
Entering Mark Down Phase
Distribution Phase Observations:
-Upthrust (Failure to mark Up)
- Uptrend Line Broken
- Sign of Weakness (Fall Thru Ice)
- RS Negative
- FFI Negative
1st Target: US$42.96
Trading risk will be reduced, if entry when price makes an LPSY to retest previous Ice (support-turn-resistance zone)
Gold is seeing supply diminishing as price broke out of the downtrend stride (line) an registering higher lows within its consolidation zone.
In addition, with both technical indicator MACD and FFI turning positive, we expect gold to breaks out of the accumulation zone.
DBS:SGX is expected to retest its major trendline at S$25.50
- Downward trend line hold
- Bearish Characteristic
- Stock is entering Under-performance against index (Relative Strength Indicator)
- Negative Fund Flow (FFI)
- Various indications of distribution phase identified
- Tencent is trading weaker than market
- FFI remains below zero signalling fund outflow
- MACD momentum remains downward bias
- FFI is below zero but upward sloping
Above short term down trendline (Green)
1st Objective is HK$340-350 zone
(Fibo 1.618% + Previous...