USTech100CFD growth is over

31 thg 10, 2020

On both the daily and weekly views, a double top is forming. This is a classic pattern which usually indicates the bullish uptrend is coming to an end. When comparing the growth since the March crash to the growth pre-march, I'm expecting this index to want to return to normal, which will include a significant drop, potentially back to the 8-9000s. First though, there is a support to break. If the support holds, we're going to enter a sideways channel which may or may not hold until after the election. If the support breaks, we can expect a significant drop.