Still below the 10 & 20 EMA. Today price had tried to recover above the 20 EMA but failed. Unfortunately I missed today the adding point at the 20 EMA tag. From now I don't suggest enter short position here because we are getting too late in this 2nd daily cycle. The SlowStoch has reached the oversold levels we just need the crossover, RSI is entering the oversold territory. MACD looks ugly though : it seems to be far from the reversal.
I think we have around 3-4 days before the DCL. I will be watching the RSI reversal deeper in the oversold territory and Slow Stochastic to cross over before calling the DCL.
The 200 SMA looks a bit too far on tha daily chart now. I think the DCL will be printed at 46 or 43 $.
In the following 3-4 days we will see how steep will be the decline.
I think we have around 3-4 days before the DCL. I will be watching the RSI reversal deeper in the oversold territory and Slow Stochastic to cross over before calling the DCL.
The 200 SMA looks a bit too far on tha daily chart now. I think the DCL will be printed at 46 or 43 $.
In the following 3-4 days we will see how steep will be the decline.
Comment:
It seems we bottomed.
I wait for today's data and decide to get out or stay in the short position.
I wait for today's data and decide to get out or stay in the short position.
SlowStochastic is crossing over , RSI seems to be turning up in the oversold territory.
MACD is bearish though. (MACD usually gives a late signal)