Chart says it all. 231 rs could be the final stop, with multiple levels on the way. Not directly ofcourse but it's the start today. Look for very quick short bounces in purple box region especially.
Typical Charts of other bubble bursts from the past which could tell the story of ADANIENT ahead. Blueline in the charts below represent where we could be right...
Before looking at the current chart, let's look at the BTCUSD log chart on a monthly scale
As we can see, BTCUSD has broken it's long term support trendline since its inception (the yellow line) and then rejected it on retest which has confirmed the breakdown. Now, it's only a matter of time, within next couple of months,...
We are clearly in an Bullish Blue trend channel with upcoming wall of significant resistances:
1. 4040$ - 200 DMA
Gap fill with supply level
1.414 fib extension
Weekly downward trend channel upper resistance
3. 4160$ - 4170$
Weekly resistance level
1.618 fib extension
Daily Supply level
50% retracement from recent lows to ATH
With Caterpillar and Deere both reporting stellar earnings and DE being up 57% in last 5 months, add the double top to the mix, this seems like a great opportunity to start a small size short position for both short term and long term swing traders. Short term, we could see a pullback to 400$, long term, this is going back to minimum 300$ within the next year.
Charts say it all. Recession is on the cards. Don't fight the fed. On retest of the previous weekly support (Green flag) is a good time to start short position. SL is confirmation above 140$. Target around 100$.
Best chances of a large bounce are if AMD test 55$ directly without much chopping around. I will personally start accumulating from 59.24$ until 55$ seeing very very high probabilities for a short term bounce upto potentially 70$
Disclaimer : Not a financial advice.
We are approaching a very strong demand level of 105$. Confluence of fibonnaci 61.8% retracement, weekly demand level, major weekly support. This is the guiding chart to the stock market now, so book your profits whenever dollar touches 105.x $
Based on Monthly parallel channel, we have major resistance around 90$ with double top likely at 93$. Easy pullback likely to 80$ from current extended levels.
SL : Confirmation above the monthly channel
Target : 80$
Confluence of Daily Supply zone (red), test of weekly trendline (in yellow), upper channel of current upmove (blue channel) along with negative divergence in RSI (lower high in RSI) vs price action all signals a very high probability of pullback from current levels.
Confluence of earlier level of 11.30 along with a weekly trendline, shows multiple support. In addition, the high velocity of the move to hit the support level increase the probability of a short term bounce in Ford.
Disclaimer: Not a financial advice.
A beautiful, self explainatory chart. I have started a long position based on this weekly trendline (orange) being hit with high velocity, expecting a decent bounce.
Disclaimer : Educational idea only. Not a financial advice. Consult your CFA for financial advice.