Long Very Long Term Index Analysis for BIST:XU100 by TeKaNaLiZ — NewsOfFinance


Our chart is a monthly chart and the most striking part is the “red line”: .. Because the red line cannot or should not be crossed (?). The price rather returns from the blue under the red. So the red is the last point (I added the dots on the red to the indicator).

No one will forget March 21, 2021; Even the bist30 stocks had gone flat on March 22 and 23 because the central bank president had changed. The fact of the matter is, as always, the “news excuse, technical wonder” event.. From the bottom of the 2020 Pandemic to March 2021, the index has increased by 93% in less than 1 year, triple peak and rsi negative incompatibility shouts loudly that the fall will be bad, but everyone is talking about the 2000s.

Returning to our monthly chart, our index is testing the red line for the first time since 2007, 3 times in 3 months. And then the central bank president changed, the index fell; tell my cone 🙂

Then, the index crosses the “impassable red line” with a hard candle in the October 2021 rally. Once the red line is crossed, movements between red and orange are expected; but our index, which can’t take its speed, heads the blue dots, which is the big target, at great speed and crashes back to the red at the same speed. But the one who passes the red once will be spoiled, there will be no cure..

In the long run, I think this arrogance will continue. Good luck everyone..

Soruce : https://tr.tradingview.com/chart/XU100/HcpnANnQ/

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