What market phase are we entering into has been the introductory question for our last appointments.
Welcome to Surfing the Market, we are already at our 15th appointment and I hope that with these easy tech analysis we have helped you in some forms, even just to evaluate different market perspectives.
Let’s start from our usual weekly perspective
Weekly Chart
You can see that the lines have quite changed, to get adapted to the current market area. I identified to new levels, that are more contemporary: the gree horizontal line, that goes back to the late 2020, when the price had some uncertainty at the area 18500$-19000$. That will keep acting as our major resistance of this area, while the yellow has acted for the moment as a resistance trend-line that the price will need to follow and eventually to break to start another bull-trend.
Screenshot on a D-TimeFrame of the Dollar Currency Index
The Dollar Strength index has bounced back from the resistance level we identified in 109 points. This is a reaction to the resistance but depending on the news and the next news releases from Federal Reserve and US Government we may see more downward movement.
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What do I expect from a daily perspective?
Daily Chart
Here I added the blue horizontal line that is already acting as a support, one more time. This line is thinner, since this level has been identified on a Daily Basis. This Blue line has already acted both as a resistance and a support in the last month and a half meaning that locally we can get important information from this price area.
Daily Chart
Here is a daily chart, with key levels and the Moving Averages: red one is 50 periods and the blue one is 200 periods. The 50MA has been broken with no mercy from the price. 200MA is far far away (like Shrek would say) and I expect that the price may get some distance from the 50MA to create enough drag-force to bounce back up.
From a geometric rebound from the upper limit of the Ichi-Clouds, price dropped below the limit, approaching an area of inversion of the Clouds. That are statistically the area with higher probability of intersection.
Daily Chart
What to observe particularly?
From two apparently controversial signals I expect that the price can go down for a little but more, potentially to the 20k$ area. Anyway, like I was sharing with some friends yesterday evening, we are in a particularly manipulated market phase.
Let me know what you think about this new weekly appointment, and what indicators you would like to be taken into consideration more (or even explained).
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None of what I write can represent a financial advice in any form. So Do your own research before taking any kind of action.
