US30 - Markets Getting Ready for Corrections
Market as a whole is in All Time High (ATH) zones and due for a correction soon. This can be evident from Warren Buffet selling majority of their stakes in companies and holding over $300bn in cash. Dollar is also in a very strong Bullish momentum which overweighs other pairs and commodities.
From technical analysis point of view, Impulsive Wave 5 is nearing completion and we can expect a possible reversal to below level once MA200 is also in touching distance. Please note this a medium term approach and can change depending on macro factors.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
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Disclaimer: This content is for educational purposes only and should not be considered financial advice.
