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Please look at all charts, monthly, weekly and daily before making your own conclusion. You can find HERE a description of the chart template used.
The used chart template is explained HERE.
Last week I wrote: "I wrote last week: "Like past week I do expect a further move down towards the low side of the BBS channel". That is exactly what the index did. On the weekly and monthly chart there is room for a further move down. The shooting star from the previous week is confirmed for a downward move by a larger black candle. Possibly there will be first some pullback the coming week.".
And what did we get the past shorter trading week? A pullback as expected. If it has to remain a pullback it should start moving down again at this level. Otherwise we may have another higher top wave 3.8 coming up. Turning down, we will have a head and shoulder pattern. Wait and see what is coming next week.
The longer term SVEPRExp expert system is green. Green means a long position and black a short position for the long term on this weekly chart. You can find more information about SVEPRExp HERE and HERE!
For FOREX traders; here I keep updated FOREX EUR/USD charts.
Learn technical analysis with: "Capturing Profit with technical Analysis"
Index possibly moving down to the low side of the last best fitting up moving pitchfork.
Long term up target reached in the monthly chart.
There is support at 1725-1650-1570.
Moving down with a second time negative divergence?
Fast Stochastic RSI indicator:
Slow Stochastic RSI indicator:
making lower top?
SVEPRExp expert system:
The long term investor on a weekly basis has an open long position.
NinjaTrader® charts courtesy of NINJATRADER®