Updated: Sep 20
Good day TT,
The coronavirus seem to be worsening within China but there is a possible breakthrough in curing it. However, is the stock market decline due to the virus? Will this glimpse of hope, allow the risk assets to continue the rally? This week would be very interesting.
Now let me start with the few trades that I have done and was released on my signal
Short Reasons: Overall trend is bearish (top down) Daily chart with head and shoulders pattern, broken neckline Strong resistance (weekly and daily)
Long Managed to stay above resistance Double bottom and broke neckline Price rejected being below 50EMA on daily Price managed switched and stay above 50EMA on 30mins
Soybean is at the level of key support right now. Will look for reversal patterns and confirmations before going long.
As discussed earlier, this week will be very interesting to see how well the S&P perform. Price is reaching the trend line support. Will it manage to break below with all the important earning release scheduled next week?
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