On 26 September 2023 I detailed the Head & Shoulders pattern here on Tradingview, just as the price was about to slide through the neckline convincingly. Since then the price has gradually worked its way lower over the last four weeks or so. Now it seems as if a completely different beast has entered the arena! And again the price is just about on the neckline. This is not something I would have liked to see if I was a fund manager critically exposed to this index.
We also see that the MACD has just broke through the trigger line from above, but sitting at a value of -242, which one might find too low to be of any concern. The vertical blue line to the left indicates the 12th of September 2022, when the MACD had a value of -225. Over the next two weeks, after that line, the index dropped about 3700 points.
We also see that the MACD has just broke through the trigger line from above, but sitting at a value of -242, which one might find too low to be of any concern. The vertical blue line to the left indicates the 12th of September 2022, when the MACD had a value of -225. Over the next two weeks, after that line, the index dropped about 3700 points.