Heyy guys,
While the H&S pattern is still forming and didn't failed yet I saw another pattern appearing this morning. In my opinion it's a very big bullish flag that's waiting for a breakout soon. The last leg up is on the run to touch the top for the fourth time.
If it breaks the target wil be around 3500 at least! I could go further but we have to wait and see the outcome of the resistant @ that point :)
Another thing to keep you eye on is the positive divergence the last few days. This means that the trend is downwards but the RSI is upwards.A negative reversal is the opposite of a positive reversal. RSI forms a higher high, but the security forms a lower high. Again, the higher high is usually just below overbought levels. When you spot this on a chart a breakout upwards is incoming in hours.
I hope this gives you a new perspective on the economic situation of the last few days and if you like my analysis and/or my description, please like!
Have a good day and good luck!
While the H&S pattern is still forming and didn't failed yet I saw another pattern appearing this morning. In my opinion it's a very big bullish flag that's waiting for a breakout soon. The last leg up is on the run to touch the top for the fourth time.
If it breaks the target wil be around 3500 at least! I could go further but we have to wait and see the outcome of the resistant @ that point :)
Another thing to keep you eye on is the positive divergence the last few days. This means that the trend is downwards but the RSI is upwards.A negative reversal is the opposite of a positive reversal. RSI forms a higher high, but the security forms a lower high. Again, the higher high is usually just below overbought levels. When you spot this on a chart a breakout upwards is incoming in hours.
I hope this gives you a new perspective on the economic situation of the last few days and if you like my analysis and/or my description, please like!
Have a good day and good luck!
