AEX: collect the troops for an outbreak
Hello everyone,
We start the year with a sideways movement (see rectangle) this is a continuation pattern, it is waiting for an outbreak.
The MA20 was able to compensate for the decline yesterday, see that the bottom of the rising trend channel roughly coincides with the MA50. This is an important support, if it breaks, a correction will follow.
The signals are still green with an expectation that an outbreak will emerge.
Regards,
TT
We start the year with a sideways movement (see rectangle) this is a continuation pattern, it is waiting for an outbreak.
The MA20 was able to compensate for the decline yesterday, see that the bottom of the rising trend channel roughly coincides with the MA50. This is an important support, if it breaks, a correction will follow.
The signals are still green with an expectation that an outbreak will emerge.
Regards,
TT
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