weekly chart shows overbot conditions, rising wedge and negative divergence which always leads to a pull back. Chart is consistent with topping and rolling over behavior. ADX shows that the strong trend in price peaked in the fall and although price has moved higher now it comes with less enthusiasm.Another interesting aspect is the large gap at 1390-1395 which corresponds to the flattening 20 MA above at the same level, reinforcing the thought that price has a destiny with this 1390-1400 zone as time ticks along. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.