The correct construction of diagonal resistance I see these tops.
There is a visible daily level of 107.8.
The price came under resistance with a positive MACD
and a hidden bullish divergence.
Can't ignore it.
There is a visible daily level of 107.8.
The price came under resistance with a positive MACD
and a hidden bullish divergence.
Can't ignore it.
Comment:
If you open the hourly chart, you can see that the candle did not break off the diagonal, and the week closed even with the entry of the candle into the cloud. On Monday we will already see that there is a hidden bullish divergence and the struggle continues. During the week the diagonal resistance should be overcome.
Comment:
Yes, there could be a bear trap here.
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Comment:
The process is evolving.
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"Twelve of the 18 members of the rate-setting committee projected at least two more rate hikes this year, according to the members' projections released last month. Four envisioned one more increase. Just two officials foresaw keeping rates unchanged.
...
Powell has said that while a hike at every other meeting is possible, so is the prospect that the Fed might decide to raise rates at consecutive meetings. Economists and Wall Street traders consider a rate hike at the Fed's next meeting in three weeks to be all but assured.
The Fed's staff economists have continued to forecast a "mild recession" for later this year. They presented a similar forecast at the Fed's prior two meetings."
CBS NEWS.
...
Powell has said that while a hike at every other meeting is possible, so is the prospect that the Fed might decide to raise rates at consecutive meetings. Economists and Wall Street traders consider a rate hike at the Fed's next meeting in three weeks to be all but assured.
The Fed's staff economists have continued to forecast a "mild recession" for later this year. They presented a similar forecast at the Fed's prior two meetings."
CBS NEWS.
Comment:
Alas, no, it failed to develop momentum.
Now it will bounce from one of two levels
Now it will bounce from one of two levels
Order cancelled
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