Wall Street traders are not satisfied with the details of the new tax plan and it can be seen on the chart of the SP500. Technically, the price created a double top formation and broke the mid-term up trendline. Luckily for the buyers we still have a horizontal support on the 2569 and a long-term up trendline (black). What is more, the price performed a V-shaped reversal yesterday. Thanks to that the situation can still be perceived as positive.
DAX is having a bit worse time than the American brother. Here, we broke the long-term up trendline, which opens us a way for a 250 points downswing. The closest support is the green area around the 12930 points.
Bitcoin goes down technically influenced by the false bullish breakout from the ascending triangle. The closest target for the current movement is a long-term up trendline around the 6600 USD.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.