RSi has created a divergence
MACD has leveled off
Generally, the smaller time frames are confirming this divergence and negative MACD . Because the Daily is leading the way any trade is going to take time.
While my bias is short, I am not actually going to place a trade either way until this ascending triangle is broken one way or another. I favor a break to the downside at this point as I think it has more room to run that way. If we start breaking down, we could really see this thing run to the downside.
On the upside trade, I would really want it to break 9600 for a play to 10.5k, not this 9.3k high.
MACD has leveled off
Generally, the smaller time frames are confirming this divergence and negative MACD . Because the Daily is leading the way any trade is going to take time.
While my bias is short, I am not actually going to place a trade either way until this ascending triangle is broken one way or another. I favor a break to the downside at this point as I think it has more room to run that way. If we start breaking down, we could really see this thing run to the downside.
On the upside trade, I would really want it to break 9600 for a play to 10.5k, not this 9.3k high.