This is a pattern and indicator analysis.
Trend reversal signs
Momentum breaking above 0.002.
CMF increasing steadily from around -0.6.
RSI downtrend breakout.
and a bullish engulfing candle that exceeds above the 10 day EMA.
Something else to note is the breakout above the 100 day downtrend line and the high volume, AGY doesn't appear to get dumped after volume of this magnitude, so it shows its got potential.
Hopefully going to see a 25% move up as we follow the predicted CMF trend line and make contact with the long term bearish trend line, a breakout above that would be highly encouraging.
We just need to break through 0.058-0.06 resistance area first.
Trend reversal signs
Momentum breaking above 0.002.
CMF increasing steadily from around -0.6.
RSI downtrend breakout.
and a bullish engulfing candle that exceeds above the 10 day EMA.
Something else to note is the breakout above the 100 day downtrend line and the high volume, AGY doesn't appear to get dumped after volume of this magnitude, so it shows its got potential.
Hopefully going to see a 25% move up as we follow the predicted CMF trend line and make contact with the long term bearish trend line, a breakout above that would be highly encouraging.
We just need to break through 0.058-0.06 resistance area first.
Comment:
Could not break resistance the first time. Hammer candle stick formed, waiting for confirmation tomorrow.