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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: "Closing the week lower with a bearish harami candlestick pattern. If this is confirmed the coming week(s) it may be the start of the long term correction move. There is an extended negative divergence between the indicators with lower tops in the indicators and higher tops in the index. Price is far away from all averages. Better be prepared when the down move starts. ".
No confirmation this week for the bearish harami pattern of the week before. We have a convergent price move between the index and the indicators. Up has probably a better change as down.
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 moving up to the high side of the last best fitting up moving pitchfork.
Long term up target reached in the monthly chart, next long target is 2030.
There is support at 1900-1820-1725.
Turning down with an extended negative divergence between tops 3.6 and 3.8.
Fast Stochastic RSI indicator:
Slow Stochastic RSI indicator:
SVEPRExp expert system:
The long term investor on a weekly basis has an open long position.
NinjaTrader® charts courtesy of NINJATRADER®