So on the after hours we have broken to the upside the next step would be a daily close to the upside. This is Bullish make no mistake about it. However, where are we really going to go 3050 is only 3% away. Remember the longer term charts are still very bearish. We still have the potential head and shoulders forming along with a long-term Megaphone pattern that so far has broken to the downside. I would not buy this breakout rally yet; we are overbought on short term and have bearish divergence, I want to see more evidence for the bull case.
There are three potential scenarios:
* Trump tweets something and the breakout is sold off and they open the trap door, or some other negative news it proves to be a false breakout. More potential evidence is the fact that we are overbought on the short term charts and have bearish divergence.
* We slowly move up for the next weeks / maybe months but will eventually be sold off.
* The Megaphone proves to be a false break to the downside and we break out to the upside and go much higher- 10% or more above all time highs.
There are three potential scenarios:
* Trump tweets something and the breakout is sold off and they open the trap door, or some other negative news it proves to be a false breakout. More potential evidence is the fact that we are overbought on the short term charts and have bearish divergence.
* We slowly move up for the next weeks / maybe months but will eventually be sold off.
* The Megaphone proves to be a false break to the downside and we break out to the upside and go much higher- 10% or more above all time highs.
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.