Looking @ RSI, SPEX is oversold and will push to positive tomorrow and if continued then will return to highs later this week. Do not see a clear price pattern at this point. Previously thought I saw an elliot wave forming.
UO and MACD do not show hard confirmations in the reversal yet, so expect slow price action until that is present.
When UO crosses 50 pt line and MACD crosses itself to positive that will be the upside trigger.
Price action to follow.
**Disregard UO trendlines, from different time view on reused chart.
Possible continuation:
Looking at a different time frame (1 Day) you can see price oscillation setting up for a trendline bounce on the UO.
I expect that because of the potential for UO to bounce and continue on upward trend that it is currently on.
(This not pictured in posting).
UO and MACD do not show hard confirmations in the reversal yet, so expect slow price action until that is present.
When UO crosses 50 pt line and MACD crosses itself to positive that will be the upside trigger.
Price action to follow.
**Disregard UO trendlines, from different time view on reused chart.
Possible continuation:
Looking at a different time frame (1 Day) you can see price oscillation setting up for a trendline bounce on the UO.
I expect that because of the potential for UO to bounce and continue on upward trend that it is currently on.
(This not pictured in posting).