most tech charts are similar. a break down line, a bottom in rsi and stochastic. everything setting up to go up and backtest the break down line. nvda had one of the steepest lines, so stands to gain the most in the next rebound.
pivot points: price stuck at first fib level up. 3308 ish is hourly 200 ma and wedge trendline. 3250ish looks like solid support. .382 fib level and possible trendline resistance at 3340-3360, which should also be a convergence of the daily 50 and 20 ma's. on the downside 3187 is the 100 dma. further down will likely be quite divergent and should be met with...
for msft this pull back / correction has been as severe as the covid crash in terms of rsi and stochastic. repeat, technicals are turning up. tech will rebound again.
still likely to run up quite a bit more mid term. short term its wedging again, with the new lower pivot provided this week. 4 hour showing early signs of a little divergence. nearest resistance is a bit more than 95, but i could see this taking a rest next week with talks of more stimulus as well. a 3rd tag of that lower line and then the pattern has to break...
change in character today. this wedge will play out and there is upside next week. if there is a lower low you buy it. back up the truck, even. the wedge may get more narrow, but the worst is done.
i would expect price to reach this line and start forming a channel when the wedge finally breaks
dollar working its way in a wedge, gold price is the gold line. use the wedge for trading long and short until it doesnt work
wedge completely formed. until it breaks, long and short gold inversely at each line
how obvious was that bottom? but there is another lower. 3230ish is your bottom. wave 4 cannot overlap wave 1
holding on to that line. looks like it might hold yet again. stochastic nearly bottomed now. if and when this breaks 90 then is support. for all those who are bearish the markets, understand that your measuring stick is what is broken. the yardstick you have used is now a ruler. so all prices must rise. stocks are not going up, its the dollar going down.