Hello fellow traders and investors,
Let's us save you the words and unnecessary details, because this chart and the charts below are self explaining.
Monthly
The monthly downtrend channel resistance top is untouched and price looks like it’s in a consolidation since 2015. We can also see the price is hovering around a massive horizontal support, see the thick blue horizontal line.
Weekly
The horizontal support that we’ve seen on the monthly chart, is exactly at the EMA250 and EMA200. Technically that is no coincidence and it is likely the index might shoot up any time soon.
Daily
Daily chart shows momentum is building up, therefor we have to monitor the 4H chart closely. Remember a break below the horizontal support shown in the monthly chart means there is no hope for bulls. Unless we witness a fake-out.
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
Let's us save you the words and unnecessary details, because this chart and the charts below are self explaining.
Monthly
Weekly
Daily
Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.
Regards, ValescoTradingGroup
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Breaking out from the wedge