It would seem that the bottom has already been broken, but it turned out to be a triple bottom!image
It would seem that the bottom has already been broken, but it turned out to be a triple bottom!
Technical analysis is based on investors' confidence that price movements are subject to trends that can be recognized - and therefore, earned. One way is to observe history. When big news breaks about a company—a negative report or a change in management—the vast majority of people react in the same way, which means investors may have a clue as to how stock prices will behave. A significant portion of trades are now carried out by trading robots, but their algorithms are also set up by people, and they are often even more predictable.
It would seem that the bottom has already been broken, but it turned out to be a triple bottom!
Auto Chart Patterns [Trendoscope®]image
Auto Chart Patterns [Trendoscope®]
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Auto Chart Patterns [Trendoscope®]
US30: Thoughts and Analysis Post-CPIimage
US30: Thoughts and Analysis Post-CPI
Today's focus: US30Pattern – DiagonalSupport – 38,135, 37,135Resistance – 38,810Hi, traders; thanks for tuning in for today's update. Today, we are looking at the US30 on the daily chart.What a solid run we have seen till yesterday's CPI data. After US CPI came in hotter than expected, this shocked the market and led to heavy selling on stock indexes and risk currencies with a flight to safety (USD).We have broken down price action, price patterns and levels we are watching. Is this nothing more than a buying opportunity, or is this a potential momentum change?
US30: Thoughts and Analysis Post-CPI