1-2 Week Horizon

Price action for the past month or two has been respecting the 21ema, a good sign of bullish movement. Price just touched our buy zone however MACD lines are pointing down and histogram shows down momentum not letting up while stochastics just touched oversold level but still has a little more room to move down. Although price action is currently at a descent area for entry, there is a descent chance for price action to go down or sideways a little bit more before going up.

Weekly time frame shows MACD open pointing up and histogram shows bullish momentum slowing down but not much. Stochastics on the weekly has been on the oversold level but has been in that level for the past few weeks. It seems like it has a little more juice for a bullish move.

I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.


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