Bullish Case For Stocks Facing Critical Test
Chris Kimble | Apr 24, 2020 07:52AM ET
The bullish case for stocks is being put to an important price test here and now!
This 4-pack reflects that “new resistance” and Fibonacci retracement levels are in play for each of these look-alike patterns.
Each of these important indices hit long-term support at each (1), where bullish reversal patterns were created at the March lows.
The rallies off the March lows has each index testing new resistance at respective 38% retracement levels at each (2).
Joe Friday Just The Facts Ma’am; Stock market bulls receive positive news if each index breaks above resistance at each (2). If bearish reversals take place at dual resistance, odds increase stocks just experienced an important counter-trend peak. One of the more important price tests in months is in play currently!
We put together this video details what the four largest bear markets of the past 100-years looked & acted like. to watch this video.
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