Richard’s heads-up:
“The report below reflects a continuation of the previously posted “Volatility in 2018-2019 & The Financial Earthquake” article.”
All trends mentioned in that article have already started:
- Indices crashed
- VIX spiked
- Metals bounced
- FX Pairs started
- Energy crashed
Crash Sequence & Brexit Volatility vs Wave Patterns
Forex – Metals – Energy – Indices
Introduction & Summary
The markets have been heavily hit by massive waves of volatility during 2018. Wild and aggressive swings unfolded within all sectors, thus leaving investors wondering if the storm is over, of if it could extent in 2019.
With the Volatility Index continuing the “fear” spike throughout 2018, global Indices officially entered bearish territory, with Dow Jones losing approx. 20% of its value in 2018. This led towards a bearish sentiment for world-wide Indices, thus making stock exchange watchers raising their eyebrows when facing the market crash question mark. Complacent investors were indeed moved out of their seats.
Concerning events made their impact on the market starting with the second half of 2018. While these concerns were building-up, the USD has been in focus, showing a gradual consolidation towards the up-side.
As the bearish outlook gained momentum in the Indices sector, Precious Metals have been once more treated as the safe-haven assets. Gold (XAU/USD) and Silver (XAG/USD) ramped towards impressive bullish sequences. This glowing sequence managed to regain half of the losses which occurred during 2018’s shelf-life.
Energy sector followed global stocks sentiment, with Crude Oil (WTI) crashing towards a staggering 45% drop during the 4th quarter of 2018.
All the above-mentioned swings were successfully tracked with the previously released 2018’s Q3 Report, and then continued with the Q4 Report. It has been mentioned that the Market could have been located at a critical point, a juncture. The climax was indeed fascinating and so was the “Volatility in 2018-2019 & The Financial Earthquake” article!
In the Forex sector however, due to the USD’s gradual steadiness, most counter-currencies such has the EUR or GBP, either consolidated towards the down-side or underperformed when facing the greenback.
With the start of a new year and the possibility of new horizons ahead, 2019 seems as if it could turn the table.
The USD could start fading against the EUR and the GBP and continuing to fade against the YEN and CHF as well. Indices however would need to prove themselves worthy of a come-back if the return of the bull market would become a valid option. Energy sector could surprise in a positive way, with a promising come-back scenario forcing investors to analyze WTI thoroughly.
Current structures seem to be aligned for a possible shift in directions and/or continuation of larger degree patterns.
Wave counts presented in this report have been labeled under the presumption that the current and overall position of the Market would reflect an end of a complex corrective cycle, thus pointing towards the possibility of sustained swings awaiting their turns.
Due to the fact that the Market is currently digesting and reacting to extreme fundamental events, it a challenging time to accurately forecast the next best decisive directions. From a technical standpoint most charts are located at or close to important vibration levels, with probabilities for both bullish and bearish crucial swings. In other words, the next swings could dictate on how the markets would perform over the 1st quarter of 2019.
An in-depth Elliott Wave technical analysis will be provided further, with the views to be treated as medium towards long-term possible scenarios. Due to the complexity behind the structures, the analysis will contain a preferred scenario but an alternate one as well.
Charts & Symbols
Market Sentiment:
- Volatility Index (VIX)
- Dollar Index (DXY)
Forex:
- EUR/USD
- GBP/USD
- USD/JPY
Precious Metals:
- GOLD (XAU/USD)
- SILVER (XAG/USD)
Energy:
- Crude Oil (WTI)
Indices:
- Dow Jones Industrial Average (US30)
- DAX30 (GER30)
Elliott Wave Technical Analysis
Market Sentiment
VIX – CBOE Volatility Index – Weekly Chart (picture)
The VIX indicator is used by analysts to measure the state of buy-sell investors’ emotions, complacency versus the fear effect. In simple terms, a rise in the VIX would or could bring with it a sharp fall in Stocks and/or Indices.
Such sharp declines in stock prices and sustained sell-offs were witnessed back in early February 2018, but also in the beginning of October 2018, when the VIX rose towards higher grounds, thus implementing a “fear” period and a risk-off sentiment. That feeling of uncertainty was prolonged in December 2018, when the biggest sell-off of the year shocked the markets.
From a technical perspective, it could be quite difficult to select the ideal scenario, in the sense that the VIX is currently located at a point of interest for both bulls and bears.
A continuation of the rising sequence could lead towards the possibility of more weakness ahead for global Indices. If this scenario would come to a reality, then the outlook for emerging markets would not be that bright. Such scenario could only result in a global contraction and a bear market.
For such a crash sequence not to occur and for the bull market to aspire for new all-time-highs, the VIX would need to decrease drastically and ease the uncertainty sentiment.
Dollar Index (DXY) – Daily Chart (picture)
The rise in the Dollar Index (DXY) since February 2018 until present times has been labeled in a bullish corrective sequence in Cycle A (blue) degree, with its sub-waves composed out of Primary A-B-C (turquoise).
Primary A (turquoise) has been marked with a five-wave sequence in its Intermediate degree (1)(2)(3)(4)(5) (blue), topping out in the middle of August 2018.
Primary B (turquoise) has been labeled as a rather complex structure, within a Flat Correction.
After Intermediate (W) (purple) finalized its declines, the complex structure began unfolding for Intermediate (X) (purple), which appears to reveal itself as a Double Three with a Contracting Triangle as the termination point.
Minor C (red) would need to commence a last bearish swing needed in order to complete Intermediate (Y) (purple) degree, thus finalizing Primary B (turquoise).
Due to the Ascending Channel displayed on the charts, the structure in Primary B (turquoise) would be allowed to unfold either as a Running or Expanding Flat.
Minor C (red) would be expected to make an important decision at the lower trend-line of the Ascending Channel, which would reflect the 100% Fibonacci Extensions of Intermediates (W) & (X) (purple), and the level in focus could be the 94.55 handle.
In a Running Flat scenario, Minor C (red) could finalize at the above-mentioned level, and could commence a bullish impulse in Primary C (turquoise).
However, if the 94.55 levels would be breached, then Minor C (red) could present an Extension, one which could lead towards lower grounds and the next best interpretation for the overall structure in Primary B (turquoise) would reflect an Expanding Flat. In this scenario, the Fibonacci Extensions of Intermediates (W) & (X) (purple) could reflect the 150-161.8% measurements but could also extend towards the 200% levels. The Vibration Zone displayed on the DXY Daily chart does seem to have the Fibonacci lined-up, thus making the Expanding Flat scenario worthy of attention.
The preferred scenario and the overall outlook for the DXY within this report would reflect the Expanding Flat structure, thus pointing towards the probability of more weakness ahead for the USD.
Dollar Index (DXY) – Daily Interactive Chart
DXY – Support & Resistance:
- Resistance: 96.00 / 97.00 / 98.50 / 100.00 / 100.95 / 102.30
- Support: 94.55 / 92.70 / 91.60 / 90.50 / 89.50
DXY – Summary:
- Expected to commence a bearish impulse from around the 30 levels and then breach the 94.55 levels. The USD’s sell-off could reach the 92.70 levels but could extend as low as 91.60 support.
- Sustained bullish impulse expected to start unfolding once the structure in Primary B (turquoise) would complete.
FOREX
EUR/USD – Daily Chart (picture)
The bearish reversal which started back in February 2018 for EUR/USD has been labeled as a complex three-swings sequence in Cycle Wave X (blue). Its Primary degree sub-waves have been labeled as ABC (red), with Primary A (red) finalizing the sell-off with the middle of August 2018.
Primary B (red) has been labeled as a Double Three structure, with its Intermediate (W)(X)(Y) (turquoise) sub-waves developing under a complex corrective sequence, in which Intermediate (X) (turquoise) presents a Contracting Triangle as the termination point.
The Descending Channel displayed on chart could have an impact on the overall structure in Primary B (red), in the sense that the present sequence could reflect either a Running or Expanding Flat scenario. The upper trend-line would be in focus, as the next swing could determine EUR/USD’s fate for a few months ahead.
In a Running Flat scenario, the EUR/USD could present more weakness ahead and the French elections gap could be the next best interpretation in an attempt for the fill. In this scenario a bearish impulse could commence, and the sell-off could aspire for the lower trend-line of the Descending Channel.
As an alternate scenario, the Expanding Flat would imply a bullish break-out of the Descending Channel’s upper trend-line, and the EUR/USD could commence a sustained bullish impulse.
The preferred scenario and the overall outlook for the EUR/USD within this report would reflect the Expanding Flat structure, in which Intermediate (Y) (turquoise) could be ready to begin a bullish impulse and possibly complete the entire structure.
In both scenarios, the 1.1410 area could reflect as a Point of Interest and the key trigger for the next trend.
A bullish reaction could begin in an impulsive manner, from the 1.1410 and/or 1.1380 area, towards the vibration zone marked between the 1.1940 and/or 1.2100 levels.
Primary B (red) could finalize at or around the 50-61.8% Fibonacci Retracements of Primary A (red), with a possible Head & Shoulders formation.
EUR/USD – Daily Interactive Chart
EUR/USD – Support & Resistance:
- Resistance: 1.1500 / 1.1650 / 1.1800 / 1.1940 / 1.2100
- Support: 1.1380 / 1.1300 / 1.1200 / 1.0900 / 1.0650
EUR/USD – Summary:
- Expected to commence a bullish impulse from around the 1410 and/or 1.1380 area, which could reach as high as 1.1940 or even 1.2100 levels.
- Bearish Impulse expected at or around the 1940 / 1.2100 Vibration Zone.
GBP/USD – Daily Chart (picture)
Cycle wave W (turquoise) top has been tagged at the end of January 2018, when the Triple Three pattern concluded with its Primary sequence WXYXZ (purple).
The bearish breach which followed until mid-August has been labeled as Primary W (red), the first leg of Cycle wave X (turquoise).
In mid-August 2018 GBP/USD bounced off the 1.2750 support with a bullish corrective sequence, which has been labeled as Intermediate (A) (green), the first leg of Primary X (red).
Intermediate (B) (green) has been unfolding within a complex corrective sequence, with a Triple Three pattern in its WXYXZ (purple) sub-waves.
The Descending Channel in which GBP/USD seems to be trapped in seems to be waiting for a major decision, and this could coincide with the fundamentals on Brexit sentiment factors.
From a Fibonacci perspective and also from technical standpoint, the 100% Fibonacci Extensions of Intermediates (A) & (B) (green) could be found as an interesting crossroad. The reaction at the 1.1310 levels could dictate if the next trend would have more claw marks on it, or if GBP/USD would be ready to surprise the markets with a bullish break-out.
As mentioned above, the reaction would be decisive, in the sense that the structure would be defined as either a Running or Expanding Flat for the larger degree Primary X (red) sequence.
In a Running Flat scenario, a breach of the 1.2600 levels could pave the way for more down-side, while in an Expanding Flat, a break-out of the 1.1310 levels could be a game-changer.
The preferred scenario would consist of an Expanding Flat, in which case a bullish break-out would act as the needed key trigger for GBP/USD to go bullish during the 1st quarter of 2019.
Should the current labeling be correct, then Intermediate (C) (green) should begin a bullish impulse, one which could reach as high as 1.3500 or even 1.3700 levels.
GBP/USD – Daily Interactive Chart
GBP/USD – Support & Resistance:
- Resistance: 1.2900 / 1.3100 / 1.3500 / 1.3700 / 1.3900
- Support: 1.2600 / 1.2400 / 1.2000 / 1.1800
GBP/USD – Summary:
- Expected to commence a bullish impulse which could reach as high as 3500 or even 1.3700 levels.
- Bearish Impulse expected at or around the 3500 / 1.3700 vibration zone.
USD/JPY – Daily Chart (picture)
Ever since late March 2018, USD/JPY has been rising consistently towards October 2018 highs, with shallow and short-lived pullbacks. The bullish trend has been labeled as Intermediate (A) (turquoise), with its Minor sub-waves 12345 (green) unfolding within an Ascending Channel, under a Leading Diagonal structure.
Since early October 2018, the USD/JPY has been trading within a corrective structure labeled as Intermediate (B) (turquoise).
Within Intermediate (B) (turquoise), the first decline has been labeled as Minor A (red), and the swings which are showing corrective features has been labeled as Minor B (red), labeled as a Descending Triangle.
Minor B (red) has been rejected form the strong resistance area and vibration zone located at the 61.8% Fibonacci Retracements of the yearly decline. That rejection resulted in a bearish impulse and a flash-crash of the USD/JPY, a sequence which has been labeled as Minor C (red).
USD/JPY could be continuing the down-trend, with one last wave needed in order to complete Minor C (red), but also the entire structure for Intermediate (B) (turquoise).
Should this scenario occur, and the USD/JPY would unfold a five-wave bearish sequence, then the next best interpretation for the larger degree cycles could point towards a bullish reversal over the medium-term.
USD/JPY – Daily Interactive Chart
USD/JPY – Support & Resistance:
- Resistance: 109.50 / 110.70 / 112.00 / 113.25 / 115.00 / 117.50 / 119.00 / 120.25
- Support: 107.00 / 105.50 / 104.10 / 103.00
USD/JPY – Summary:
- Expected to continue the bearish impulse which could reach as low as 10 or even 103.00 levels.
- Bullish Impulse and a sustained trend expected at or around the 00 / 102.00 significant support zone.
PRECIOUS METALS
GOLD (XAU/USD) – Daily Chart (picture)
The sustained and impulsive decline from February 2018 and down until August 2018 lows has been labeled as a complex Double Three in the Primary W (turquoise) degree.
In mid-August XAU/USD reacted with a bullish swing, and this move has been labeled as Intermediate (A) (light blue) within the larger degree Primary X (turquoise). Following that bounce-off, the sideways correction has been labeled as Intermediate (B) (light blue).
XAU/USD continued to rise afterwards, reflecting a Bullish Impulse within a rising Channel in Intermediate (C) (light blue).
Intermediate (C) (light blue) would be expected to continue and then to finalize the bullish sequence after a sideways corrective pattern. Should the sideways correction unfold, then the lower trend-line of the Ascending Channel would most likely be watched closely.
If the XAU/USD would manage to gain support on the above-mentioned trend-line, then the 5th wave for the up-side could aspire for the 78.6% Fibonacci Retracements of Primary W (turquoise), where the 261.8% Fibonacci Extensions of Intermediates (A) & (B) (light blue) also seem to be aligning.
The previously breached trend-line (dotted-red), could be retested repeatedly before a major change, and a rejection could occur after the bullish sequence would complete for Primary X (turquoise).
Gold would be closely watched by investors in the sessions to come, as it is approaching several significant resistances, such as the 1304.00 and/or 1320.00 levels.
A rejection at or near the significant trend-line could unfold as a bearish impulse towards new yearly lows, and the 1115.00 levels could be seen as turning points, should the Flat Pattern become a reality for Super-Cycle Wave (b) (black).
GOLD (XAU/USD) – Daily Interactive Chart
XAU/USD – Support & Resistance:
- Resistance: 1304.00 / 1320.00 / 1340.00 / 1360.00 / 1390.00
- Support: 1290.00 / 1265.00 / 1245.00 / 1210.00 / 1197.00 / 1160.00 / 1120.00 / 1115.00 / 1100.00
XAU/USD – Summary:
- Expected to continue the bullish impulse and retest the 1320.00 levels.
- Bearish and sustained impulse expected at or around the 00 or 1340.00 significant resistances.
SILVER (XAG/USD) – Daily Chart (picture)
Silver (XAG/USD) price action has been continuously dropping after the second part 2018. The sell-off which got interrupted by a bullish reaction in September 2018 has been labeled as Intermediate (A) (blue).
Intermediate (B) (blue) corrective sequence has been labeled in an Expanding Flat pattern, within a Double Three sequence.
The sustained bullish impulse seems to be aspiring towards the completion on Intermediate (C) (blue), in which case XAG/USD could consolidate and retest the 15.35 levels before another rally.
Silver’s 15.35 levels could be in focus during the next few trading sessions, as a support could provide more up-side for this precious metal. However, if a breach would occur, then Silver could dive into a bearish sentiment once more.
The preferred scenario would be a bullish continuation before any major change, in which case the 16.25 levels could reflect the 61.8% Fibonacci Retracement of the previous bearish sequence. These levels could also lineup with the Vibration Zone displayed on the Daily chart.
If the bullish sequence would continue, then XAG/USD could face a rejection at or around the 16.25 / 16.80 levels. Such reversal could push Silver towards new yearly lows, which could be revealed as the 13.80 / 13.20 significant supports.
SILVER (XAG/USD) – Daily Interactive Chart
XAG/USD – Support & Resistance:
- Resistance: 15.80 / 16.25 / 16.80 / 17.40
- Support: 15.35 / 15.00 / 14.50 / 13.80 / 13.20
XAG/USD – Summary:
- Expected to continue the bullish impulse from around the 35 levels and possibly retest the 16.25 and 16.80 Vibration Zone.
- Bearish and sustained impulse expected at or around the 16.25 and 16.80 Vibration Zone.
ENERGY
Crude Oil (WTI) – Daily Chart (picture)
The rise in Crude Oil (WTI) and the sustained up-trend between June 2017 and May 2018 has been labeled with an Ending Diagonal in Primary C (green).
Following those sustained bullish sequences, WTI unfolded a series of sideways swings, which eventually encountered an epic rejection in early October 2018. This top has been labeled as a Flat Pattern in Intermediate (B) (red) and the big sell-off has been tagged as an extended bearish impulse in Intermediate (C) (red).
After three months of continuous down-trend and short-lived corrections, WTI eventually bounced off the 361.8% Fibonacci Extensions of Intermediates (A) & (B) (red). The $44.00 area also represents the 61.8% Fibonacci Retracements of Crude Oil’s entire gains ever since February 2016.
The bullish reaction appears to be sustained, in the sense that it could lead towards the creation of an impulse. However, in order for Crude Oil to provide more bullish confidence, it would need to gain support at or around the 49.00 levels, where investors would most likely look for more reliable clues.
A breach of the 49.00 levels could provide room for more down-side, while a support could pave the way for a bullish journey ahead.
Crude Oil (WTI) – Daily Interactive Chart
Crude Oil (WTI) – Support & Resistance:
- Resistance: 54.00 / 58.00 / 61.75 / 68.00 / 72.00
- Support: 49.00 / 44.20 / 40.00
Crude Oil (WTI) – Summary:
- Expected to get gain support at or around the 00 levels and increase the probabilities of a trend-change.
INDICES
CBOE Volatility Index (VIX) – 2H Chart
The VIX has been classified in a Flat Structure with the Intermediate degrees (A)(B)(C) (orange) acting as the three-swings sequence required for this type of pattern.
Intermediate (A) (orange) reflects the previous spike witnessed in early February 2018, while Intermediate (B) (orange) reflects the attempt to correct that shock-wave, also the attempt for Indices across the world to reenter the complacency periods.
In early August 2018, after the complex structure on the down-side completed, the VIX initiated once again an alarming rise, which turned into an actual spike in volatility and the threatening return of the bears when it comes to stocks and indices.
The continuous rise of VIX throughout the second part of 2018 transcended into a questionable confirmation of a bearish cycle when it comes to global indices.
Intermediate (C) (orange) has been labeled in a five-swings sequence in its Minor sub-waves 12345 (red), and its sub-waves should exceed the end of Intermediate (A) (orange), if this swing were to complete the Flat Structure mentioned.
From a mathematical perspective, the 100% Fibonacci Extensions of Intermediates (A) & (B) (orange) could define a possible finish line for the fear season. This measurement has not been honored, hence the reason why VIX seems to be generating a dilemma.
The main question is whether or not the bearish sentiment has ended or if a crash sequence is barely getting started.
The previously mentioned Fibonacci measurements have not been honored, however, a five sequence could be visible. It is difficult to evaluate whether or not the VIX would continue the “fear spike” in an even more aggressive manner, or if the complacency period would be returning and the VIX would rapidly decrease towards the relief of Indices would-wide.
VIX does seem to be channeling with its series of spikes, hence the reason why a decisive swing could once again occur. A support in Minor 2 (red) could cause a serious spike and a bearish continuation for Indices, while a continuous decrease in this indicator could result in EU and US stock markets new all-time highs.
It could be indeed an epic moment, one which could be remembered.
CBOE Volatility Index (VIX) – 2H Interactive Chart
GER30 – Daily Chart (picture)
GER30 concluded a drop of approx. 3400 points during 2018, getting heavily hit by the sudden spikes in volatility. The German index ended 2018 displaying approx. 25% decrease in value.
The entire bearish sequence which began in late 2017 has been labeled as the final sequence of a larger degree, labeled as Super-Cycle (Y) (orange). Within this type of sequence, the structures revealed themselves as complex, even extending in their complexity over time due to the conflict between trending degrees. Such complicated structures have been historically known to result in extended apprehension periods, with terrific eruptions.
Cycle W (purple) represents the first sell-off which occurred back in February 2018, and Cycle X (purple) has been classified as the left shoulder in a Head & Shoulders formation. Cycle Y (purple) has been classified as an extended complex structure, unfolding within a Descending Channel. The structure within Cycle Y (purple) could be labeled with a sharp bearish start in Primary A (red), followed by a Descending Triangle in Primary B (red).
During the last quarter of 2018, DAX has been constantly sliding its way down and this swing has been classified as an Ending Diagonal within a Descending Channel. Due to this possibility, DAX could be poised for more weakness ahead unless the index reveals clearer bullish signs.
A final bearish push could occur in Primary C (red), which could reflect Intermediate (5) (blue). Should this swing start unfolding, then it would need to breach the 10550.00 levels in order for the bearish motive structure to be consistent. In this scenario, should the bearish sentiment persist, then GER30 could even tag the 9500.00 levels.
However, there are still chances for the German bull market to return. In this scenario DAX would need to gain support at or around the 10550.00 levels, and should this scenario become a reality, then it would also need to break-out of the Descending Channel. In a bullish scenario, the upper trend-line should be broken on the up-side and then result in a support being granted on it.
DAX could be trading in a range towards the down-side during the 1st quarter of 2019.
Assuming that one more volatility wave would occur, and that the technical analysis shared could be on track, then this would lead towards more possible weakness ahead for GER30. Intermediate (5) (blue) could aspire for the 150-161.8% Fibonacci Extensions of Intermediates (1) & (2) (blue), which align with the Fibonacci Extensions of Intermediates (3) & (4) (blue).
As for a Market Crash sequence, the 9000.00 and 8600.00 levels would be in focus.
GER30 – Daily Interactive Chart
GER30 – Support & Resistance:
- Resistance: 11150.00 / 11600.00 / 12200.00 / 12850.00 / 13650.00 / 14000.00 / 14400.00
- Support: 10550.00 / 10050.00 / 9500.00 / 9000.00 / 8600.00
GER30 – Summary:
- Expected to complete the current sell-off at or around the 10050.00 / 9500.00 vibration zone.
- Support is expected to occur around the 00 / 9500.00 levels, which could send GER30 on a bullish impulse towards the 13650.00 or even 14000.00 levels.
US30 – Daily Chart (picture)
US30 has been classified under a larger corrective cycle, as the structures are displaying multiple corrective features.
The volatile periods between January 2018 and October 2018 have been labeled as the final waves for Cycle V (black). Primary 3 (blue) represents January’s top, followed by a Contracting triangle in Primary 4 (blue), and then and Ending Diagonal in Primary 5 (blue).
October’s sell-off has been labeled as Primary A (red), the first leg of a larger degree correction in Cycle W (pink). Primary B (red) appears as a Flat Correction and finalized once December 2018 started. Primary C (red) breached through an important trend-line (dotted red) and caused serious damage with the biggest sell-off in years. Dow Jones ended 2018 by displaying approx. 20% decrease in its value, thus realistically entering bearish territory.
With a complete 3-wave sequence complete, US30 seems to be reversing towards the up-side, in an attempt to grab hold of the bull market once more. Cycle X (pink) could be the type of wave which can cause surprises and could show a sustained rise ahead. However, for the bull market to gain momentum, the previously breached trend-line (dotted red) would need to be broken on the up-side in a sustained manner. Such break-out and a support granted on the above-mentioned trend-line could result in bullish confidence, thus easing the negative sentiment which is surrounding global indices. In a bullish scenario, the levels in focus could reflect the 24500.00 / 25000.00 followed by 25650.00 if a continuation would be destined to occur.
Dow Jones is approaching significant Fibonacci Retracements levels as well, such as the 61.8% and/or 78.6% of Primary C (red). These measurements could be translated as a Vibration Zone, as the Fibonacci Extensions of Primary waves A & B (red) also alight with the Golden Ratio.
Unless Dow Jones would manage to implement the complacency period once more by breaking out of the bearish territory, there could be more down-side ahead. If US30 would be destined for a larger degree contraction, then this could result in serious and sharp declines.
In a bearish scenario, the 23200.00 levels would need to show a breach in order to imply more possible bearish momentum, while a continuation beyond the 21450.00 levels could extend the complexity behind the uncertainty period.
US30 – Daily Interactive Chart
US30 – Support & Resistance:
- Resistance: 24500.00 / 25000.00 / 25650.00 / 26000.00 / 26550.00 / 27500.00 / 28250.00
- Support: 23200.00 / 22500.00 / 21450.00 / 20350.00 / 19550.00
US30 – Summary:
- Expected to encounter a strong resistance around the 24500.00 / 25000.00 Vibration Zone and to extend the bearish sentiment with more impulsive sequences.
- Support is likely to occur around the 20350.00 / 19550.00 area and US30 could inflict a bullish impulse, one which could aspire for levels beyond the 27500.00 horizon.
Richard’s thoughts
Dear Traders,
Thank you for taking the time to go over the presented material.
Hopefully it will be useful to you when charting or would be of assistance when about to make an important trading decision.
After concluding this report, should you choose to expand your trading knowledge or get updated via private sessions, please check the relevant packages:
Richard
