Been keeping an eye on Wall Street as its reached an all time high with price rejecting it. After a bearish engulfing on the weekly we can now see a rally down back to the 16,000. With Fib C in place on a previous demand & supply area where the market has produced engulfing candles in the past this is an important area of confluence if you zoom in for P.A on the...
Price has found support on previous resistance level as expected. This is also the 38.2% Retracement level from the low of Oct 15th and the high of Dec 5th. I am expecting price to enter the DAILY demand zone and 50% Fib level and rally up to top of trend line to test its strength. Oil seems to be dragging indices down and my expectation is that the Black Gold...
Of course, the projected future waves are pure speculation and I'm not expecting any patterns to repeat themselves exactly. There do exist, however, 7-year and 13-year cycles in the market that deserve consideration and further research, considering the similarities I believe to be showing quite clearly in this comparison. I have made an effort to simplify this...
yes, i wish i could edit an idea i just published. i believe it's a natural human instinct to improve on something i just realised i should have done differently...
These projections are for comparison purposes only. Every next top has previous ones projected as colourful dotted lines.