DJI: Market Showing Weakness, Short Term (May 3)

X Force Global Analysis:

All markets is currently showing weakness in both technical and fundamental reasonings. With no clear signs of recovery for the COVID-19 situation, we may see an uprise of technical traders taking advantage of the situation to drive price down even further trying to keep the technical aspects on a larger picture in tact.

With that being said, we can see a clear break of the 1D rising wedge that may drive us down to the main three fib levels.

Another interesting correlation is with the cryptocurrency markets, where Bitcoin is showing similar signs of retracements and bounces. Please check the extreme similarities in our other analysis:


Trade Safe.