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The next Yearly Bullish Reversal stands at 92.70 - the next Yearly Bearish Reversal resides at 52.43! Weekly Bullish Reversal to watch stands at 75.28 while the Weekly Bearish Reversal lies at 60.12.
Monthly Bullish Reversal stands at 90.50 while the Bearish Reversal lies at 63.30. This, gives us a broader trading range of a 30%. Immediately, we closed the last session trading at the 60.19, which is below this level on a daily closing basis at this moment. We need to close above this on a weekly basis to signal a rally is unfolding. Right now, the market is trading some 20% beneath that level. The Daily level of this market is currently in a full bearish immediate tone with resistance at 65.39. The last high on the monthly level was 76.90, which was created during October. The previous monthly level low was 26.05, which formed during February 2016. However, we still remain below key support and key resistance now stands at 66.29 above the market. Monthly trend “Crash mode” Long term Bullish.
Explanation:
Bullish reversals: If the market should close above the reversal point, then the downtrend will be "reversed" into a bullish or increasing trend. The first reversal point indicates that a move to the second reversal is likely. The second reversal point signifies a move to the third point is probable and so on.
Bearish reversal: If the market should close below the reversal point, then the uptrend will be "reversed" into a bearish or declining trend.
Experienced traders: could use reversal points for the opposite of their intended use. Example: A trader could place an order to buy against a bearish reversal with a protective stop just below.
The next Yearly Bullish Reversal stands at 92.70 - the next Yearly Bearish Reversal resides at 52.43! Weekly Bullish Reversal to watch stands at 75.28 while the Weekly Bearish Reversal lies at 60.12.
Monthly Bullish Reversal stands at 90.50 while the Bearish Reversal lies at 63.30. This, gives us a broader trading range of a 30%. Immediately, we closed the last session trading at the 60.19, which is below this level on a daily closing basis at this moment. We need to close above this on a weekly basis to signal a rally is unfolding. Right now, the market is trading some 20% beneath that level. The Daily level of this market is currently in a full bearish immediate tone with resistance at 65.39. The last high on the monthly level was 76.90, which was created during October. The previous monthly level low was 26.05, which formed during February 2016. However, we still remain below key support and key resistance now stands at 66.29 above the market. Monthly trend “Crash mode” Long term Bullish.
Explanation:
Bullish reversals: If the market should close above the reversal point, then the downtrend will be "reversed" into a bullish or increasing trend. The first reversal point indicates that a move to the second reversal is likely. The second reversal point signifies a move to the third point is probable and so on.
Bearish reversal: If the market should close below the reversal point, then the uptrend will be "reversed" into a bearish or declining trend.
Experienced traders: could use reversal points for the opposite of their intended use. Example: A trader could place an order to buy against a bearish reversal with a protective stop just below.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
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