Short BEL 20 index
Updated
As seen there is a historical low resistance level @3123.7, and a fibonacci ratio of 0.382 @3091.265
I've tried to draw the small bullish trendline which will be colliding with these very soon.
This might indicate an end of this short term increase and a fallback to the bearish trend known as the CoVid19 crash or atleast a long term battle trying to break through this heavy resistance level.
I've tried to draw the small bullish trendline which will be colliding with these very soon.
This might indicate an end of this short term increase and a fallback to the bearish trend known as the CoVid19 crash or atleast a long term battle trying to break through this heavy resistance level.
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I'm starting to see political involvement trying to force economics up here.Just now that we might have a possible pullback they release positive signs that we're over the "CoVid19 top of the curve",
trying to stimulate buyers.
The next link obviously shows us we're long over the top already but this was being held back for the public as an economical strategy.
en.wikipedia.org/wiki/2020_coronavirus_pandemic_in_Belgium
I don't know what the effect of this will be, but I'd say hold.
If somehow we manage to break the 0.5 fibonacci ratio @3306 over the upcoming weeks(unlikely), that would be a very bullish sign.
However logically speaking I'm stil thinking a pullback to atleast 2800 if not way lower!
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