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Does anyone have an explanation why MACD and RSI are strongly down while prices are up since 2018?
MACD levels flashing super overbought conditions. All is calling for a strong retrace in the months ahead.
Risk Reward is definitely skewed toward the downside as long the excess (See Macd) will revert to the mean.
Breakdown since July 2019 is still confirmed. As long as the price does't break up the ascending blu trend line, it should keep falling toward the red longer term trend-line.
First time a publish something with such a short time frame. Let's see how it goes....
I expect a short lived pull back till the ascending trend line ( some 5% correction) and then all way up till 3000 ish.
103.5 will tell us if DXY is headed for a retrace toward 95 or continue upward and target the long term support at around 110...
Until prices stay within the long term triangle, we don't expect any major shift. Only if the trend lines are broken, we will see a strong movement either upside(40%) or downside(60%).
Historical DOW Chart since the beginning of 1900... Let's put things in perspective!
Short term the dow may reach the strong support zone around 20000, long term it will continue climb!
It may go back to 2600 but it's unlikely it will fall below the long term support line.
We may very close to the end of the correction around 11.200. However if markets break that level, next support are around 9000 level..
Do you agree? As the pair is the combination of EUR/USD and USD/JPY, such a scenario implies a strong yen and weak euro coming.
Any consolidation is good to add in the position or start it.
Time for a pause (small correction) before new highs..
We are approaching for the 3rd time, the long term supporting line in the last 50 YEARS!! Will it gbreak this time or simply flirt with it and go back higher? Mah!! I simply don't know!!! Any idea?
Macd has broken higher while all the rest stay at resistance levels.. A buy is worth with a strict stop loss at 11700
Some pull back may happen in the next few months but the index is ready to reverse to the mean, and align itself to the other global indexes. Enjoy if you dare!
Everybody is short....