This could be a large WXY flat correction. We are in the last Y wave down. It could be a hefty gain. Target at 2655 level is the minimum. I like European indexes clean charts and ideal touch points as you could see in the EURO Stoxx 50 here.
I am expecting and ABC correction on the EURO STOXX 50 to complete the C leg. LIKE and FOLLOW for updates Happy Trading (*_*)
Look for bullish evidence and long-> move to breakeven as soon as possible. In the past 13 years, every time when the mkt move below ema from an uptend, the chance of going up is 5/6.
A corrective rally inside a larger descending trend line has officially ended yesterday, given the bearish break from a smaller rising channel seen on the daily chart (on left hand side). The daily MACD has turned bearish as well, suggesting the upticks are likely to find fresh sellers. The downside towards 2900 stands exposed and the bearish invalidation is...
Trading is not gambling. Gotta have long and short views at the same time. L'histoire se repete. From this principle, it's always good to think that crude and gold used to be cheap. Even with inflation/GDP-growth adjustments, market values sometime can still make no sense. However, Barrick Gold once made a press announcement that production price for gold is...
News: www.bloomberg.com There is a clear relationship between oil and prices. As the main source of energy in production activity, an increase in oil can lead to a lower consumer prices, thus, deflation. With central banks mandates to adjust interest rates to inflation level and expectation that the rate will go up when there's inflation, correlation with oil...
VSTOXX (Stoxx50 volatility index) is currently flirting with 4 months low level. STOXX 50 already started by touching top line of Bollinger band (20 days, 2 std dev). Comparing with S&P 500 and VIX (SP500 volatility index), we would also see +/- the same thing. Just be ready next week. Expecting at least 3% correction on STOXX50 in one of the days next week, as...
This is basic view of Supp/Resist analysis. It ignores fundamentals.
overextended in a sweeping downtrend to uptrend move, decent area of reaction, good for a quick daily trade