US100 is in a window where we have multiple patterns completing. The major pattern from the covid low completed on time last week but with now reversal in sight yet we look at the price expectation of around 20500-20639. The smaller pattern from the Oct 2022 low goes out to the end of July.
We are in the zone so we wait for a sign.
Enjoy the day.
Note
Short term look after we sold off from the 1 Standard Deviation level.
Note
it needs to close 100 points lower than where it is to be a down week..Note
After having a reversed nicely late in the week and not rallying late on Friday we are now set up for more downside and with the Monthly AI pointing down for most of the week it sets up a sell before we hit July which is one of the strongest months of the year..
Enjoy the week.
Note
After getting to the major level where the 4 year pattern has now completed and reversed after a favourable CPI number we now look at 20k for either support for the bullish move to continue or it breaks below and becomes resistance then we look at a deeper correction or a major top.. Selling PBs to start with.
Note
After reversing from the extension level we have been watching we now look to the PB and the 20k level. Support here will send it higher again but if it starts breaking below then we might need to look at a deeper correction.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.