*Only Technical Analysis - but my overall macro sentiment is bearish
We are having an huge confluence of very strong resistances: all combined makes it an very huge probability of an winning short trade
Fib .618
Fib .328
Resistance Line
POC
Trendline
Liquidity
Current Macro Environment is very bearish:
Inverted Yield Curve :> showing that Market Participants are forecasting that rates are being cut in the future
Purchasing Manger Indexes are at contractionary levels - combined with the current situation in the money market - I do not expect that the real economy is going to relief from here
Current Technical...
o Inflation topping
o UMSCI bottoming
o Yield Curve steepening
o 10yr coming to ressistance
o ISM about to bottoming
o ISM New orders already bottoming
o Market very bearish
o OBV bullish div.
o RSI bullish div
- Overall prediciting overall economic situation to do not weakining which means we could have already be in the most bearish economic state,
- Still...
