Wyckoff Accumulation Range : TOTAL Market Shows Signs of Bottoming Out
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The TOTAL market is currently in a **Wyckoff Accumulation** phase, as prices settled into a range around the $1.8 trillion mark. Following a **selling climax (SC)** event, there was a significant volume rejection, suggesting that the downward trend may have ended. This was anticipated when the **fear and greed index** showed fear at a reading of 26, signaling capitulation and potential market reversal.
Since then, the market has been consolidating, forming a local range with signs of accumulation. A **Last Point of Support (LPS)** is likely, followed by a **Higher Low (HL)** before we see an upside breakout over Q4. Key signals show strength for future upward movement, and the market is likely to avoid new lows from this point forward.
Conclusion :
The TOTAL market looks set for an upward breakout after accumulation. Keep an eye on further corrections within the range but expect an overall bullish trend in Q4.