Wall Street reversed its three-day sell-off overnight on renewed US-China trade hopes as investors piled back into the global recovery trade.
We think that the market probably goes higher, reaching towards the $ 3,200 level based upon the bullish triangle on the daily chart. Overall, this is a time year the typically works out well for stock markets anyway, as the money managers out there look to pad results for clients.
We're in buying position with the nearest Take Profit at 3,137, followed by 3,200. We putted our Stop Loss bellow 3,030. The price right now is trading above 50-day and 100-day SMAs and RSI indicator pointing higher above its 50 level, which mean that the bullish momentum should continue.
We believe that the 3,030 level underneath continues to be a hard “floor” in the market extending down to the 3000 level.
Remember, that at the end of the day it’s the Fed that supports the market, not the US/China trade situation. As long as the Federal Reserve is willing to step in and help the market along, it will continue to do what is done over the last 10 years - rally.
We think that the market probably goes higher, reaching towards the $ 3,200 level based upon the bullish triangle on the daily chart. Overall, this is a time year the typically works out well for stock markets anyway, as the money managers out there look to pad results for clients.
We're in buying position with the nearest Take Profit at 3,137, followed by 3,200. We putted our Stop Loss bellow 3,030. The price right now is trading above 50-day and 100-day SMAs and RSI indicator pointing higher above its 50 level, which mean that the bullish momentum should continue.
We believe that the 3,030 level underneath continues to be a hard “floor” in the market extending down to the 3000 level.
Remember, that at the end of the day it’s the Fed that supports the market, not the US/China trade situation. As long as the Federal Reserve is willing to step in and help the market along, it will continue to do what is done over the last 10 years - rally.
İşlem aktif
First TP was reached, now let see if the price could hit second one at 3,200How do you think?
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.