As you can see in the chart, SPY has once again run into resistance at the $302 price range. The slow stochastic is overbought & seems to be turning over. There is also a bearish divergence forming between the price & RSI indicator. A 61.8% Fibonacci extension target gives us a price target that is near the current support line. It looks like a good time to take a...
Confluence of a Rising Wedge and Bearish Divergence on On Balance Volume suggests that downward price action is imminent.
Target illustrated is ideally a minimum target. Price could conceivably go lower.
Hello dear followers,traders and newcomers nor bulls and bears.
In this TA I would like to show you mid/long term follow up of bear / bull divergences as well as share a opinion on current local bottom because of many factors and indicators
You can see Bear div at the ATH (Indicators going down in overbought area & price going still up)
NOW we can see Bull div...
Though there is bearish divergence forming, there is also a bullish hidden divergence forming at H4. I believe that price may go beyond 1.2384 because of the hidden divergence. But have to be cautious about the bearish divergence forming.
EURCHF is having trouble making new October highs after hitting resistance at the daily chart’s 100 SMA!
Does this mean that the euro’s partying days are over? A quick peek at EUR/CHF’s Stochastic flashing overbought signals for the pair. What’s more, there’s also a bearish divergence on the chart!
H4 - Price has currently reached the downtrend line, bearish divergence.
H1 - Price has reached a critical zone formed by the fibo level of the cycle and the downtrend line.
Until this critical zone holds we may look for bearish setups with bearish evidences in order to start looking for the sells.
Today’s chart worth taking a look at will be AFTERPAY which is in a strong bull market respecting its trend line and is currently in blue sky breakout mode. A return to its trend line will post a good opportunity to long this instrument!
Points to consider,
- Bullish trend on all time frames
- Major support at .618 Fibonacci Level
- Blue Sky...
ATH resistance being tested for the first time here on NASDAQ:AAPL, big chances that it fails to break it, as a couple of bearish divergences have been formed along the way.
Target 1: 209.33
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Price met the 1.618 fib almost perfectly. This asset is also trading in a rising wedge, bearish, and is fighting the trend line now. Price is making higher highs but the RSI is making lower highs which is a bearish divergence, indicated by the red trend line.
On the weekly I see an even more egregious bearish divergence,...
Volume analysis matches up beautifully with the H&S, and there's also a bearish divergence on the RSI too. All of this points to a reversal. The measured move of the H&S pattern has price falling to $115 which should act as pretty strong support, and this also falls on a important trend line as well. Holding & confirming this as support is cruciall if price is to...
D1 - Price reached the top of the range.
Double top with bearish divergence.
H1 - Bearish divergence followed by bearish convergence, currently it looks like a pullback is happening.
We may now look for more bearish evidences in order to start looking for the sells.
H4 - Hidden bearish divergence right at the retest of the broken neckline of the head and shoulders pattern.
H1 - Price has reached a critical zone, potential bearish divergence.
We may now look for bearish setups with more bearish evidences in order to join the bears.