Horizontal Resistance of the TR points couldn't be broken by the daily candles from 18th jan to 29th.
Momentum on the MACD Histogram looks set to go into negative territory
So does the MACD Crossover indicator looking set to cross, which usually triggers the reverse side. In this case to the downside.
Most importantly, we're still below the 200 EMA , and until that breaks it doesn't look well.
Trendline resistance (red line) pattern is appearing which we just touched, and if that isn't broken we could be heading down soon as well.
Momentum on the MACD Histogram looks set to go into negative territory
So does the MACD Crossover indicator looking set to cross, which usually triggers the reverse side. In this case to the downside.
Most importantly, we're still below the 200 EMA , and until that breaks it doesn't look well.
Trendline resistance (red line) pattern is appearing which we just touched, and if that isn't broken we could be heading down soon as well.
Comment:
So far we've broken the trendline on the daily, which could turn out to be a whipsaw, but if not we could potentially another leg up