First, i would like to apologize for this seemingly uninteresting but informative chart. Since 2009 bottom, XLU has been engaged in current 35 degree accelerated uptrend channel When i extend important past swing points, these lines still exert certain effects when it comes to support and resistances. What particularly catch my eye is: 3 of the red lines converge to a purple region, hence i suspect that 44-45 would be the important support if retracement does happen. The euphoric price that will compel me to short would be 52-57 if it is capable of reaching there FAST enough
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jangseohee
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jangseohee
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jangseohee
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jangseohee
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IvanLabrie
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Perfect H&S there...interesting how the neckline plays out in the future.
These are log chart trendlines, right? So, technically a curve.
jangseohee
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The effect of log is to bring parabolic to linear and the effect is very pronounce for price >50, in XLU
the effect is still minimum, below is linear curve, if you zoom in, my emotional indicator (8ema) is in play :-), but i suspect that this is just the first top or LS in play. The euphoric price of log vs linear is pretty similar