on the daily timeframe, the price is approaching the support line of the rising wedge, which, if broken, could indicate a potential drop. Also, note that there's a gap just below the 0.5 of the Fibonacci, which is begging to be filled. A drop to the order block ($550) could result in a bounce. A previously occurring golden cross followed by support found twice on the MA 200 are noteworthy moments: will the price bounce off for a third time? A sustained drop could lead to bullish divergence in the RSI and additional bearish momentum in the MACD if it drops below the midline.
Conclusion:
Based on the weekly and daily charts, signals such as the mostly bearish rising wedge pattern, potential export restrictions to China, potential bearish divergence in the RSI, and the MACD that may cross bearish, suggest that ASML could be facing a potential drop. However, the previous golden cross and the two-time support found on the MA200 also provide hope for potential upward movement.
Keep calm, do your own research! Trade safely and manage your risk.
(Disclaimer: This is not financial advice)
Conclusion:
Based on the weekly and daily charts, signals such as the mostly bearish rising wedge pattern, potential export restrictions to China, potential bearish divergence in the RSI, and the MACD that may cross bearish, suggest that ASML could be facing a potential drop. However, the previous golden cross and the two-time support found on the MA200 also provide hope for potential upward movement.
Keep calm, do your own research! Trade safely and manage your risk.
(Disclaimer: This is not financial advice)
Tims.Technische.Analyse by TIMTIBBO
