Looking at the SMA strength indicator, which I simply created for a technical analysis course, and who knows it exists somewhere... shows that when it is high and turning down, in whatever trend we were, the trend is weakening. I added a simple moving average 7-period to the 14-period SMA strength indicator. This shows we are changing the strength downward.
For me that signals as stated that we will see corrective action once again back towards $ 950 again coming weeks.
For me that signals as stated that we will see corrective action once again back towards $ 950 again coming weeks.
Comment:
we are near $ 950 idea .... near there take profit if you are short.