As we can how the markets have been respecting these Major support and resistances since years covering every major crash .
We can see that currently we are testing the resistance and showing possible signs of rejection which makes me think that the markets have topped out and might become bearish from now on .
On the other hand , It will be very bullish if we break above this resistance level , which I know we will break in upcoming years .
News comes later . charts always speaks first .
Things to keep in Mind :-
Wars going on
Inflation Rates
Increasing Taxes
Fed is extremely hawkish .
All of these might led to the capitulation event soon .
We can see that currently we are testing the resistance and showing possible signs of rejection which makes me think that the markets have topped out and might become bearish from now on .
On the other hand , It will be very bullish if we break above this resistance level , which I know we will break in upcoming years .
News comes later . charts always speaks first .
Things to keep in Mind :-
Wars going on
Inflation Rates
Increasing Taxes
Fed is extremely hawkish .
All of these might led to the capitulation event soon .