Goddamn it and i'm being bearish
This chart is looking bullish.
Why?
there's a falling wedge.
Also bullish divergence
And we had a good retrace to the FIB 61.8°
So a break of that falling wedge could lead the nasdaq to around 15850. i don't believe in new ATH for the coming years.
The bollinger bands are narrow so something is going to happen, but it needs to break that falling wedge.
Or Nasdaq will fall back at least till around 9710 dollar.
Still have mixed feeling about this because:
-the dxy is fighting with the Fib 50°, but can go to the 99.16 FIB 61.8°
-Copper is rising so actually a good indicator for the inflation, so that means probably the inflation will go up again very soon.
This chart is looking bullish.
Why?
there's a falling wedge.
Also bullish divergence
And we had a good retrace to the FIB 61.8°
So a break of that falling wedge could lead the nasdaq to around 15850. i don't believe in new ATH for the coming years.
The bollinger bands are narrow so something is going to happen, but it needs to break that falling wedge.
Or Nasdaq will fall back at least till around 9710 dollar.
Still have mixed feeling about this because:
-the dxy is fighting with the Fib 50°, but can go to the 99.16 FIB 61.8°
-Copper is rising so actually a good indicator for the inflation, so that means probably the inflation will go up again very soon.