50MA is about to cross 200MA to the upside. This is considered to be "The Golden Cross" . Golden Cross can be excellent sign of where a market is headed. , and is a buy and hold signal.
Inverted head and shoulders pattern can be seen on the chart as well. Multiple shoulders are marked and along with a upwards neckline are signalling powerful move to come.
Additionally we have a pin bar off of a bullish channel support (light red line).
Based on this (and previous analysis i have posted) i am a buyer in this market.
GAME PLAN: 500MA to cross 200MA - buy and hold. I might enter a bit aggressively as shown on the chart. Will see how the market opens. GL
Inverted head and shoulders pattern can be seen on the chart as well. Multiple shoulders are marked and along with a upwards neckline are signalling powerful move to come.
Additionally we have a pin bar off of a bullish channel support (light red line).
Based on this (and previous analysis i have posted) i am a buyer in this market.
GAME PLAN: 500MA to cross 200MA - buy and hold. I might enter a bit aggressively as shown on the chart. Will see how the market opens. GL