Top trendline was drawn weeks ago and just extended out of curiosity. That trend has held up pretty well having only been crossed once. We'll have to see if it holds again. Going back to July 31 with last rate cut by Fed we saw some red. If that's indicative of what's to come with this expected cut, this could set up perfect for a LARGE drop. Top trendline goes back to end of June, could be gnarly if it holds.
-MACD on this on lower time frames (1-2 hr or lower)seems kinda out of sync to me personally. So i'm trying to avoid looking at MACD.
-Accumulation/Distribution could be reaching a trend line heading up (currently 2 real points of contact)
-RSI another potential trend, however, hovering on overbought. (3 real points of contact)
-Stoch is just in like a triangle chilling up in overbought territory.
-MFI (not shown) approaching overbought, sitting around 63 with a potential upward trajectory.
My personal thoughts are gonna see a slight bit up on Monday, possible gap up Tuesday (as every tuesday), and then the cash of the pigs and bulls will rain down on the bears.
This is NOT advice. This is me screwing around for fun on a chart brought to my attention by another member of this community and doing my own research.
-MACD on this on lower time frames (1-2 hr or lower)seems kinda out of sync to me personally. So i'm trying to avoid looking at MACD.
-Accumulation/Distribution could be reaching a trend line heading up (currently 2 real points of contact)
-RSI another potential trend, however, hovering on overbought. (3 real points of contact)
-Stoch is just in like a triangle chilling up in overbought territory.
-MFI (not shown) approaching overbought, sitting around 63 with a potential upward trajectory.
My personal thoughts are gonna see a slight bit up on Monday, possible gap up Tuesday (as every tuesday), and then the cash of the pigs and bulls will rain down on the bears.
This is NOT advice. This is me screwing around for fun on a chart brought to my attention by another member of this community and doing my own research.
Comment:
I forgot to account for Saudi pipelines news.....