APA Apache Weekly Chart Negative Divergence Setting Up

APA Apache setting up with negative divergence. Price received a negative divergence smack down in January. The two year overbot conditions as well as the rising wedge indicate that upside is limited from here. This weeks price jump is not met with enthusiasm by the indicators and when price exceeds the January high at 127.5, that will place the chart in negative divergence again, and down she will go.

APA is roling over now but considering the strong showing the RSI made in January, and also the money flow behavior, this chart would be agreeable to come back up again for a projected right shoulder before summer, and then the bottom rail of that rising wedge should fail. Thus, up to 127-129 area then spank down in the near term. Obviously, the short side is favored moving forward. 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.