Retest of the rising wedge
Huge buyings took place today, but on bigger timeframes it looks like just a retest of the rising wedge. There are also hidden bear divergences on 1-4 tf on US500, US100 and US30. I guess we will see continuation of the correction to 5730-5650 area next week. The idea will be invalidated if the price returns into the rising wedge (crosses the purple trendline).
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Fake return. I don't know if it will reach the target, but I can say for sure it will return under the wedge tomorrow because it is diverging already.
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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.