Looking for a breakout. There is major resistence at this level so I am predicting a bearish move. In addition there are bearish indications by the MACD and RSI.
We may have a bullish break however there are more reasons it may go bearish as listed below.
Reasons to short if we have a bearish break of this channel:
1) Overbought rsi
2) Facing major resistence (look left)
3) Rsi divergence
4) Macd divergence and crossover
5) 200MA line acts like 'magnet'
Thanks for looking!
We may have a bullish break however there are more reasons it may go bearish as listed below.
Reasons to short if we have a bearish break of this channel:
1) Overbought rsi
2) Facing major resistence (look left)
3) Rsi divergence
4) Macd divergence and crossover
5) 200MA line acts like 'magnet'
Thanks for looking!