As I’ve posted on March 4th, I was expecting a second shoulder of the pattern (and then a sharp fall due to some news) and we were going to have it - the bounce back - until the tariff turbulance. A clear positive divergence of the RSI was appearing on the daily chart and the momentum has turned upwards. And then you know what happened. The sharp fall came a couple of weeks earlier than I’ve anticipated. The market will definitely bounce back but when and at what level? Nobody can know, however the artefacts will probably cause a lower low afterwards. Check out the pattern of the 2022 downtrend. The water seems to be muddy for a while.
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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.