- March 5, 2021
- Posted by: Tradingshot Articles
- Category: Stock Indices
Pattern: Bullish Megaphone on 4H.
Signal: Buy as the price just rebounded right above the Megaphone’s Higher Lows trend-line. The RSI did the same on its own Support, while the MACD is close to forming a Bullish Cross.
Target: 3840 short-term (right above the 4H MA50 as on the Feb 24/ March 01 rebounds) and 4,040 long-term (the 1.382 Fibonacci extension).
**Important Note** The 4H Death Cross is theoretically a Bearish Signal but last time was formed right on the bottom:
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