V 77.01 – bullish – Posts a new record high amid negative divergence
V rallied strongly from 67.03 (September 28, 2015 low) to post a new record high at 77.31 Monday (October 19, 2015), passing July’s 76.92 peak (July 20, 2015). With the overbought indicators showing potential negative divergence, caution is warranted for pullbacks. Further gains would open the 80.00 psychological level next. The immediate support lies at 73.67 (October 12, 2015 weekly low). Below rests 72.32 (September 14, 2015 weekly range highn near the 20 week moving average).
Outlook:
Daily: bullish
Weekly: bullish
V rallied strongly from 67.03 (September 28, 2015 low) to post a new record high at 77.31 Monday (October 19, 2015), passing July’s 76.92 peak (July 20, 2015). With the overbought indicators showing potential negative divergence, caution is warranted for pullbacks. Further gains would open the 80.00 psychological level next. The immediate support lies at 73.67 (October 12, 2015 weekly low). Below rests 72.32 (September 14, 2015 weekly range highn near the 20 week moving average).
Outlook:
Daily: bullish
Weekly: bullish
