Some reasons why we could see a pullback here:
1. We are forming a bearish divergence on the daily timeframe
2. We exactly touched the fibonacci retrace level at 78.6%
3. We are at the top of a potential downward trend channel
4. Overbought
5. Red dot, indicating sell pressure
6. Global liquidity being drained
1. We are forming a bearish divergence on the daily timeframe
2. We exactly touched the fibonacci retrace level at 78.6%
3. We are at the top of a potential downward trend channel
4. Overbought
5. Red dot, indicating sell pressure
6. Global liquidity being drained
Note
Bearish div on daily. And most likely we will print a red dot after today.Note
Will he announce that we are in a "mild" recession today 👀Note
Rate hike relief pump has now retraced. If unemployment rate comes in hot tomorrow we might get the catalyst to the downside and confirmation of a pivot.Note
We just got a Fitch rating downgrade that can have effects on the stock market:- decreased confidence in the market
- increased borrowing costs
- market uncertainty
- impact on global markets
- weaken the U.S. dollar
We have awaited a pullback. Will this end up beeing more then a pullback?
Note
To me it looks like every pump is beeing sold in to -> big players getting exit liquidityNote
The possibility arises for a new bottom in Q1 2024:
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.