WAC has broken chanel down It is going from downtrend to uptrend Similar situation like in Jan 2012 First resistence MA50, second MA200 Target on trendline around 22 Strong MACD Histogram and Lines ROC break up
Comments
Night_Trader
⋅
Followed.
klirenc
⋅
WAC has reached MA200 today without delay, it should calm down for a while. WAC is very strong now. I guess that it could break up downtrend resistance line finally. In that case it could go up to 29 - Based on Fibonacci extensions . Resistance 24-24,3 and than 26,5-27 in that case.
klirenc
⋅
First target MA50 has been reached. There should be couple of days around MA50 and than start up to 200MA - second target.
Night_Trader
⋅
Followed.
Night_Trader
⋅
Followed.
Night_Trader
⋅
Looks good. The difference is that we don't have a double bottom and divergence yet. Like we had in January. So it can come back one more time easily.