If bulls hold the 350 level then I don't think this scenario will occur however if they don't then:
Thank you for reading - This is technical standpoint - It is a potential scenario which means it will or won't happen, don't take it too seriously, too early to get confirmation - feel free to comment if questions
- Potencial scenario
Because of weekly rejection of the 50MA + confirmation of a hammer candle, I expect the market to dump to the next support, the 100MA, and trend line at ~325. It will hold the support and go back to the 350 level however bears reload and plunges the market to ~300 creating a bull trap. Even though bears are in full control, bulls try another attack however they get rejected on the neckline of the H&S, confirming the pattern. And finally, the bears suck the last droplet of bulls' blood and the market goes down to the 200MA
Thank you for reading - This is technical standpoint - It is a potential scenario which means it will or won't happen, don't take it too seriously, too early to get confirmation - feel free to comment if questions
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.