3 events happening at level 3700: 1. price crossing slow moving average 2. Fast moving average crossing slow...
Just a simple projection for potential breaking point for downtrend behavior from mid July 2020
ascending triangle and fast MA crossing down-up the slow MA. at this point, notwithstanding my view remain bearish, there may be 50% chances for upper levels.
the price showed strong power bouncing up to 15m and 30m fast MA. now approaching 1H. after it, possible continuation of the downtrend till 2960
One of the few cases where weekly fast MA (21) crossed top-down a slow MA (100) was in the 2008 fall. watch out!
Downtrend to be confirmed by falling S&P500
H1: there have been few cases where after fast MA crossing up-down slow MA has created a small bounce till touching the fast MA. if rejected it could open the market awaited downtrend to price normalization
Will try again with an attempt to predict fast MA crossing top-down almost 90 degrees an horizontal slow MA. If not today, on Monday.
15m fast moving average crossing up-down a stabilizing slow moving average. same behavior in the last trend inversions
H1 and 30m fast moving average crossing up-down a stabilizing slow moving average in the next hours