Wow, what a ride. Extremely fear followed by extreme euphoria. Bear rallies are often strong due to both bulls rushing to buy and bears rushing to cover. Could this be just a bear trap? But with the weekly candle potentially forming a bullish piercing candle and the fact that S&P has gone way above 2400 (support-turned-resistence-now-turned-support-again), there is a chance that we might have seen a bottom. Although we won't really know until we see a higher low and higher high on the daily (or a double bottom).
With the whole world announcing lock downs simultaneously over the last weekend, leading to the markets hitting it's lowest on Monday, the markets could have gone pass the pessimism and are now be optimistic that these draconian measures is the way to win the corona virus war. Let's see. Stay home and stay safe everyone!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
With the whole world announcing lock downs simultaneously over the last weekend, leading to the markets hitting it's lowest on Monday, the markets could have gone pass the pessimism and are now be optimistic that these draconian measures is the way to win the corona virus war. Let's see. Stay home and stay safe everyone!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.