CN50 - What’s Next?
After a strong bullish rally, the weekly chart shows the completion of a Bearish Gartley pattern around the key resistance zone near 16,000, and now the market faces a big question:
Are we going to see a reversal, or is the bullish momentum strong enough to break through?
Key Considerations:
Bearish Gartley Pattern: Traditionally signals a potential reversal, especially when coinciding with strong resistance.
Strong Resistance: The 16,300-16,600 zone has held back prices before, making it a key area to watch.
Momentum: The recent rally has been strong, but are the bulls running out of steam, or is there still room for further gains?
Questions for Discussion:
1. Will we see a reversal at 16,000, or is this a consolidation before another leg higher?
Is the current rally supported by strong fundamentals, or is this purely technical?
2. What are your preferred strategies here – waiting for a breakout or looking for short opportunities?
Share your thoughts! Is CN50 heading for a reversal, or are the bulls ready to push through this critical zone?
Are we going to see a reversal, or is the bullish momentum strong enough to break through?
Key Considerations:
Bearish Gartley Pattern: Traditionally signals a potential reversal, especially when coinciding with strong resistance.
Strong Resistance: The 16,300-16,600 zone has held back prices before, making it a key area to watch.
Momentum: The recent rally has been strong, but are the bulls running out of steam, or is there still room for further gains?
Questions for Discussion:
1. Will we see a reversal at 16,000, or is this a consolidation before another leg higher?
Is the current rally supported by strong fundamentals, or is this purely technical?
2. What are your preferred strategies here – waiting for a breakout or looking for short opportunities?
Share your thoughts! Is CN50 heading for a reversal, or are the bulls ready to push through this critical zone?
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