So whats next on this top?
In the past at Dezember 2018 and February 2020 we saw big drops from the top. And now, there we are in the same situation:
1. RSI is tremendously overbought
2. MACD is flying whide above 1 so its also an overbought signal.
3. There is convergence between these indciators around draw downs 2018 and 2020.
And as if that wasnt enough put call ratio is on close to 0,73 (same as February 2020) that means there is pure greed at this moment.
For me, there are three scenarios in 2021:
1. We will a healthy correction to the 3430 support zone,
2. Market is looking for next higher high around 4000
3. Big drop to next lower to 3000 support zone.
We shall see.
Good week for you.
Feedback is welcome.
In the past at Dezember 2018 and February 2020 we saw big drops from the top. And now, there we are in the same situation:
1. RSI is tremendously overbought
2. MACD is flying whide above 1 so its also an overbought signal.
3. There is convergence between these indciators around draw downs 2018 and 2020.
And as if that wasnt enough put call ratio is on close to 0,73 (same as February 2020) that means there is pure greed at this moment.
For me, there are three scenarios in 2021:
1. We will a healthy correction to the 3430 support zone,
2. Market is looking for next higher high around 4000
3. Big drop to next lower to 3000 support zone.
We shall see.
Good week for you.
Feedback is welcome.