There are a great many oscillators that seem to be either entering or in OVERSOLD mode now. UO has not been giving any divergences but we can still look at its OB/OS signals it gives.
What I initially noticed when firing up this chart was that I swear it was a Deja vu (god TV when can I post the correct way to write Deja vu?) that I swear the way the market had moved that it was back in March that I saw this pattern. Well when I went backward in time it did indeed have about the same pivotal movements that it did then as it is now.
The way that ATR is dying I would assume the market is ready to breakout. Which way? It would seem that it wants to go up since this downward trend keeps ATR going lower and lower meaning less support.
The line that you see was from a chart I made a while ago and surprisingly it has bounced off it several times. No, this is not the log trend line, but either way it is showing me that this line actually does need to be taken seriously. Need to stop and look at it because it hasn't been broken.
Targets:
Bull: 450
Bear: 420
Time: Give or take 3-4 days due to low volatility. Can occur sooner if there is some increase buy/sell pressure.
What I initially noticed when firing up this chart was that I swear it was a Deja vu (god TV when can I post the correct way to write Deja vu?) that I swear the way the market had moved that it was back in March that I saw this pattern. Well when I went backward in time it did indeed have about the same pivotal movements that it did then as it is now.
The way that ATR is dying I would assume the market is ready to breakout. Which way? It would seem that it wants to go up since this downward trend keeps ATR going lower and lower meaning less support.
The line that you see was from a chart I made a while ago and surprisingly it has bounced off it several times. No, this is not the log trend line, but either way it is showing me that this line actually does need to be taken seriously. Need to stop and look at it because it hasn't been broken.
Targets:
Bull: 450
Bear: 420
Time: Give or take 3-4 days due to low volatility. Can occur sooner if there is some increase buy/sell pressure.
