9th April is a crucial day , imo of viewing this chart.
He was not bluffing the people as it turns out. However, after a week, the market got terrified and heads south but noticed it did not formed a lower low from 9th April candle.
25th April candle tells us it has breaks out from the resistance level and the last two days have been pretty bullish as well.
I believe the media is getting fatigue of the tariffs matter and we can see that US and China are behind the curtains "negotiating" while leaving the market guessing who really called who. That was the decoy and it is not important other than face saving. More importantly, the chart has once again convinced us that the buyers are encouraged and prove their actions by longing the market.
So whose buying ? Cathy Woods
Could the price action reverse ? Of course, though I think the probability is not high. Hedge funds are already queuing to buy bank shares based on favourable Q1 results , a positive sign.
As usual, please DYODD
He was not bluffing the people as it turns out. However, after a week, the market got terrified and heads south but noticed it did not formed a lower low from 9th April candle.
25th April candle tells us it has breaks out from the resistance level and the last two days have been pretty bullish as well.
I believe the media is getting fatigue of the tariffs matter and we can see that US and China are behind the curtains "negotiating" while leaving the market guessing who really called who. That was the decoy and it is not important other than face saving. More importantly, the chart has once again convinced us that the buyers are encouraged and prove their actions by longing the market.
So whose buying ? Cathy Woods
Could the price action reverse ? Of course, though I think the probability is not high. Hedge funds are already queuing to buy bank shares based on favourable Q1 results , a positive sign.
As usual, please DYODD
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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.