Massive rising wedge on 4hr chart!! Been tracking this the last couple weeks. It’s been respecting the trend lines for the this pattern. I believe this is either last leg down in the pattern or one more leg up before it completes the pattern and drops. Target would be 550-560 next week and then 540-550 the following week.
With April 2nd with tariffs being finalized we could see this move happen between now and then. If this is the last leg down before it completes the pattern and drops more and breaks the bottom trend line it will happen by either Friday or Monday. If it does leg up it will most definitely be April 2nd when it breaks through bottom trend line. Let’s see how this plays out but for those saying that we are not in a bear market and the bottom was back 552 then your not paying attention. I feel like the bottom could one of 3 targets - $490-20% drop, $430-20% drop, $307-50% drop. Now this all depends on Senior Cheeto. I am thinking 20%or 30% is ideal.
With April 2nd with tariffs being finalized we could see this move happen between now and then. If this is the last leg down before it completes the pattern and drops more and breaks the bottom trend line it will happen by either Friday or Monday. If it does leg up it will most definitely be April 2nd when it breaks through bottom trend line. Let’s see how this plays out but for those saying that we are not in a bear market and the bottom was back 552 then your not paying attention. I feel like the bottom could one of 3 targets - $490-20% drop, $430-20% drop, $307-50% drop. Now this all depends on Senior Cheeto. I am thinking 20%or 30% is ideal.
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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.