Simple curves applied in order to maximize contact points on the lower and higher sides of the curved support/resistance lines. Sure does look like a Nike swoosh, and price has obeyed this shape.
Let’s forget the going-ons in the world that might fundamentally impact the markets; all major US indices share this relative shape, and from a purely technical standpoint, the prognosis does not look great for the short term.
Hot pink lines uncover an ascending wedge (bulls running out of steam at a similar rate to bears picking up steam). Volume backed divergence against price on RSI and MACD.
Short and sweet, just my thoughts. Cheers
Let’s forget the going-ons in the world that might fundamentally impact the markets; all major US indices share this relative shape, and from a purely technical standpoint, the prognosis does not look great for the short term.
Hot pink lines uncover an ascending wedge (bulls running out of steam at a similar rate to bears picking up steam). Volume backed divergence against price on RSI and MACD.
Short and sweet, just my thoughts. Cheers