We are interpreting the macro uptrend since the 2013 lows to have topped in December 2024, having already finished its first wave of decline and potentially started a new one that should bring price toward the macro support levels around the 50s.
Chart (Monthly):
Local resistance levels are at 105–117.
As long as price stays below them, there is risk of an immediate downside reversal.
Mid-term resistance zone: 122–158.
But even if price attempts one more retest of the June highs, as long as it stays below 158, we remain highly cautious of more decline in the coming months.
Chart (Weekly):
Chart (Monthly):
Local resistance levels are at 105–117.
As long as price stays below them, there is risk of an immediate downside reversal.
Mid-term resistance zone: 122–158.
But even if price attempts one more retest of the June highs, as long as it stays below 158, we remain highly cautious of more decline in the coming months.
Chart (Weekly):
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Swing-trading ideas, market analytics & asset requests
Keeping all closed trades public: belfed.com/equities-trades.html
14-day free trial (no card): t.me/BelfedBot
Free 🇺🇸 t.me/BelFedFreeEN | 🇷🇺 t.me/BelFedFreeRU
Keeping all closed trades public: belfed.com/equities-trades.html
14-day free trial (no card): t.me/BelfedBot
Free 🇺🇸 t.me/BelFedFreeEN | 🇷🇺 t.me/BelFedFreeRU
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.