- Here we can see price for the first time not reach new highs after a rally since Jan 2017 , even though profiles on the retracement as well as the (albeit weaker) rally number (2) look healthy. The long upper wicks at the top of of rally number (2) possibly shows a area of Supply.
-Looking down at the DMI Indicator, it can be seen that the looses a lot of strength, and the continuing to reach resistance levels.
-On this retracement we can see major increasing with a decline in price after an low-volume uncertain candle.
-In see we can see price reach new highs, on the back of slightly contracting . The reaches previous resistance levels again, agains minimal selling resistance as can be seen by the hardly moving (passably because all the sellers had already left?)
- a Rallly to neew highs, combined with a massive decline in .
- (PINK ARROWS) Also a divergence between the indicator and the price, with price reaching new highs but with an decrease in +DI
-> Please comment and let me know what you think. I'm new to the JSE, and experimenting with a longer time frame.