WIG20, Daily, 1-Hour H&S and Weekly Bearish CandleThere was a big rally on the WSE recently - 16 green Heikin Ashi candles in a row. Now it's time for a continuation of the downtrend or, less likely, a correction in the new bullish trend.
Why? There is:
- an important supply-resistance level
- a supply zone
- 1-hour confirmation - Head and Shoulders formation
- weekly confirmation - an ending bearish candle
and USDPLN entered the weekly support zone.
Rather, the price will fall from these price levels otherwise, there is a chance that the upper zone will be tested.
The first target: the lower zone.
The second target: 2020 low.
See also related ideas.
