Alas1209
2023-09-14
Great ariticle, would you like to share it?
@Ultrahisham：Stalemate between bulls and bears The bears had the opportunity to pounce on the bearish setup via a gap and go third wave yesterday. However, they did not capitalise on the golden chance presented by a tad higher inflation reading. They were surprisingly meek and the open goal at the 4430 level was not taken. That gave the bulls the confidence to mount a resistance and held the bears back well to give that glimmer of a hope via that diagonal. 4460 must hold and it is holding. Now the bulls must dare enough to surpass 4490 to keep that diagonal alive. Can they do it? Tonight are retail numbers and the closely watched PPI numbers. Looking at how unpredictable the market is, it is hard to say if the numbers might influence much. But the bulls are looking for hope and the slightest bit might embolden them. As for the bears, they seem happy to concede ground to the bulls surprisingly. Are they looking for more bull meat to consume before trapping the bulls? Or are the bulls really in the driving seat? I still believe the bears have control and caution is still necessary at these levels. Break 4430 below and we have confirmation of that bearish pattern down to the 4250 levels. Break 4515 above and we might have a possible diagonal in play which means a rally towards the 4800 levels might be possible. Which one is it? Disclaimer: Please kindly do your own due diligence as this is a sharing article and in no means financial advise. I am just sharing my opinions and thoughts. Thanks for reading my commentary. Hope it helps! Stay safe! 😊 $DJIA(.DJI)$ $NASDAQ(.IXIC)$ $S&P 500(.SPX)$ $Coinbase Global, Inc.(COIN)$ $Roblox Corporation(RBLX)$ $Taiwan Semiconductor Manufacturing(TSM)$
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