It's a question everybody thinks about after a pandemic, war, and inflation. But my chart below says the opposite! I think it might be a good chance for us to reach new highs in the next year which means at least %40 gains in SP500 and this will also reflect other markets such as crypto- currency. On the daily and weekly charts we see and accumulation phase and there's a flag formation that can be broken upwards in the coming months. There's also a channel in purple that we lately follow that indicates slightly bullish trend, and last week's move might be a fakeout.To stay positive, SP500 should stay within this purple channel and we will wait for green channel to be broken upwards. When this main bearish trend especially started from May,2022 is eliminated, this will make market to collect more bulls and those bulls can take SP500 to 6000!For now our price is at 3843 and there's great potential ahead. Our 200 day moving average is around 3923 for now.For the ones who do not want to take risk, wait for prices to stay in course, and when there's a breakout, normally there should be a pullback formation too, where you can more safely get in. In the coming days, I will share more analysis regarding 2023 in various markets. I wish you a great, healthy and successful year with your loved ones and family.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
Hello good morning on this crisp but bright Christmas morning.
This is your first blog but maybe do an introduction post first so give geta to know the new bee around.
Good luck ,
Merry Christmas and an advanced happy new year.