Nice push to send us back above long-term trendline in an attempt to finally reverse this correction.
Critical support held in as previously expected {2/13} with closes maintaining above 2600; imo this is due to the fact that long-term trendline transitioned above 2600 support which gave it an extra 'cushion'.
Overall it seems that we're still on cue to carry out a similar pattern to that of the indicated bottom. Daily and weekly MACDs are in-sync with convergence -> divergence.
I will re-add generated pattern in further correction occurs. Expect next critical to be around 2400-2300.
Critical support held in as previously expected {2/13} with closes maintaining above 2600; imo this is due to the fact that long-term trendline transitioned above 2600 support which gave it an extra 'cushion'.
Overall it seems that we're still on cue to carry out a similar pattern to that of the indicated bottom. Daily and weekly MACDs are in-sync with convergence -> divergence.
I will re-add generated pattern in further correction occurs. Expect next critical to be around 2400-2300.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.