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Welcome to another Monday morning. Markets look promising, the US dollar is gaining strength, the prices are even more expensive. So what to expect? We’ll see in a moment.
DAX40
Overall, looking at the German index, you can see the stock in two ways, either as a current correction move or a continuation of further gains. on indices it is nothing special when everything is rising all the time. From a technical point of view, we can see that for more than a month the price has been moving in a downward trend with several upward corrections. Now, if this short trend were to persist, an overbalance, i.e. a 1: 1 correction, could be designated. I am writing it this way because learners see the OverBalance pattern first, and only after the next year do they realize that it is a one-to-one adjustment
So what I mean is pictured here. The first shows what is here and now, and the second shows the possible range after meeting the previous conditions. I am not convinced of it myself, but it shows as a possible scenario if the market were to move technically according to this pattern. Of course, I focus more on further increases and pumping the value of the largest companies, but no matter what I think, it’s important what you can see on the chart.
Petroleum
In this case, there is not much to write. As I wrote that it will be more expensive, it is. The final moment of growth for crude oil will be what I have shown in the picture. It is likely that investors will end their gains on a huge volume that will exceed the last turnover in recent months, and thus kick everyone out of the market to start a strong correction. Strong because the profit from the inverted position is as profitable as during the increases, but much faster.
XAUUSD
Gold does not meet my expectations. The value fell into consolidation, which makes it impossible to clearly define the further direction at present. The breakout during the Asian session was reduced quickly, so we are waiting for a signal from the market. In the picture I marked with a cross the place that will be the last to maintain the growth, in the event of a breakthrough I assume a further decline and possible negation of the formation.
USDCHF
The US dollar / Swiss franc pair is in an uptrend. Crossing the designated line will give the first signal for possible declines. Until then, all that is above the trendline is long.
Bitcoin
Interesting things are happening in the chart of our king of cryptocurrencies. We can see that the turnover increased along with the price increase. Now, even small increases in a movement that looks like a consolidation are associated with the involvement of large amounts of cash by investors. In the picture I showed what I mean. You should watch BTC because someone may want to take a profit at any time. However, in my opinion there will be a further increase.
