Week from 27 July
Fundamentals: Strong US-China tensions, increasing severity with COVID-19, Increased jobless claims and Microsoft and Apple taking huge hits. P/E ratio hits all-time highs signalling an overbought and overvalued market. However, the federal reserve intends to release an additional $3 trillion which could cause the price to bounce of resistance.
Technical:
Bearish:
-Double top formation on H4
-Head and shoulders pattern on M15
Signalling a possible trend reversal if price breaks trend line around the 10368 area.
Bullish:
- Ascending triangle on M5 signals a possible retracement to 11000 area or previous resistance at the 10600 area.
-Price action oversold
This week I am looking for short positions with bearish confirmation on lower timeframes.
Fundamentals: Strong US-China tensions, increasing severity with COVID-19, Increased jobless claims and Microsoft and Apple taking huge hits. P/E ratio hits all-time highs signalling an overbought and overvalued market. However, the federal reserve intends to release an additional $3 trillion which could cause the price to bounce of resistance.
Technical:
Bearish:
-Double top formation on H4
-Head and shoulders pattern on M15
Signalling a possible trend reversal if price breaks trend line around the 10368 area.
Bullish:
- Ascending triangle on M5 signals a possible retracement to 11000 area or previous resistance at the 10600 area.
-Price action oversold
This week I am looking for short positions with bearish confirmation on lower timeframes.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.