Overall downtrends with the indexes when looking on the big candles; weekly and daily... everything is red. Won't se green for the rest of the year IMO, but that's another subject.
Here is my analysis:
Drawing Fibonacci, we establish the zones, finding the 61.8 which is the strongest level of this downtrend at the present time. This also means market god entry to liquidate the shorts at the beginning of 2022 (our -61.8). These zones exploited by the "stop hunt" are denoted by the purple square. Now let's see how this plays out.
Here is my analysis:
Drawing Fibonacci, we establish the zones, finding the 61.8 which is the strongest level of this downtrend at the present time. This also means market god entry to liquidate the shorts at the beginning of 2022 (our -61.8). These zones exploited by the "stop hunt" are denoted by the purple square. Now let's see how this plays out.