The charts seldom lie, but the formations in the chart here signal a SEVERE DROP in the DJI. With the Global Economy in turmoil- Covid19- and recent price fluctuations in gas and other resources.... this is nothing to ignore.
A Bearish Shark Pattern embedded inside a Bearish Butterfly near the 50% retracement resistance point is a pretty BAD signal to have
TAKE HEED TRADERS... if you have been making trades that look like easy setups and they aren't manifesting.. this may be why....
If these play out- the DOW is taking a MASSIVE dump! Shorts may be the way for profits in the near future.
A Bearish Shark Pattern embedded inside a Bearish Butterfly near the 50% retracement resistance point is a pretty BAD signal to have
TAKE HEED TRADERS... if you have been making trades that look like easy setups and they aren't manifesting.. this may be why....
If these play out- the DOW is taking a MASSIVE dump! Shorts may be the way for profits in the near future.
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We would need to see the formation of a bullish crab to avoid the damage of the bearish shark formed. Seems it touched he resistance yesterday 7-7-2020.
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DJI DOWN 500 intraday 2 hrs after opening bell.
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DJI is at the point of testing the bearish Shark Formation today.. I think before the day is over we are about to see if this is a valid point or not.... if so.. the coming weeks and months will not be one to be in!
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If DJI doesnt reject/ wick at the bearish resistance the secondary touch point is 27400- 27600....
Moorsc0de aka Crypt0nomics aka Zaphkiel
