i haven't seen anything bullish worth of note till recently when i joked that this could just be a deep #2 in a push up. once i said it i started to look closer thinking what if that is the case and spotted the old para curve reversal that i used to gauge the last jump to 7400.
ignoring the sec hype to 8500, would we of just followed this curve naturally? i guess we will never know but with charts you have to rule out 'noise' and see the picture for what it is.
reasons to be bullish:
1) top indicator on chart - the macd is winding in, its printed a green bar and is heading back to the brown line which is the mean, cross above and its bullish but most importantly it is bullish divergence, if u like starting mid june.
2) main chart - bounced the bottom of the bband, heading upwards slowly with a mid test around 6750 before we cool off a bit. mainly following the para curve upwards.
3) bottom indicator on chart - the rsi is flicking upwards, the red is reducing to the mean and the lines mainly the red one are curling upwards with also bullish divergence showing since early august.
i guess the main test is what happens after we touch 6700 area, the bounce zone would the ma7 at 6300 and bottom bband but im keeping this way open until then as it is still bear season but feels like that its slowly winding down.
food for thought ;)
ignoring the sec hype to 8500, would we of just followed this curve naturally? i guess we will never know but with charts you have to rule out 'noise' and see the picture for what it is.
reasons to be bullish:
1) top indicator on chart - the macd is winding in, its printed a green bar and is heading back to the brown line which is the mean, cross above and its bullish but most importantly it is bullish divergence, if u like starting mid june.
2) main chart - bounced the bottom of the bband, heading upwards slowly with a mid test around 6750 before we cool off a bit. mainly following the para curve upwards.
3) bottom indicator on chart - the rsi is flicking upwards, the red is reducing to the mean and the lines mainly the red one are curling upwards with also bullish divergence showing since early august.
i guess the main test is what happens after we touch 6700 area, the bounce zone would the ma7 at 6300 and bottom bband but im keeping this way open until then as it is still bear season but feels like that its slowly winding down.
food for thought ;)
