Clear and straight forward analysis, just watching the monthly levels to reduce the noise within the markets.
Green horizontal ray shows previous cycle all time highs and possible new support zones.
Red horizontal ray shows intermediate resistance which was now flipped.
Let's follow up on this view in a few weeks time.
Green horizontal ray shows previous cycle all time highs and possible new support zones.
Red horizontal ray shows intermediate resistance which was now flipped.
Let's follow up on this view in a few weeks time.
Comment:
re-tests and consolidation above the red resistance levels.
Comment:
another more serious re-test of the red horizontal levels.
following weeks will show what phase of the bear-market we are in.
either we go back up and can continue disbelieve rally's.
or we enter the time-based capitulation phase and discover lower levels.
following weeks will show what phase of the bear-market we are in.
either we go back up and can continue disbelieve rally's.
or we enter the time-based capitulation phase and discover lower levels.
Comment:
Looks like the retest of red horizontal is done and we trend higher.