Please feel free about telling your opinions or denials .. I would like to hear what do you think about this. And for not to miss updates please follow me. It's a long term trade and maybe situations get change by time..
The $GE weekly appears as a channel up coming into a rising wedge coupled with neg divergences in RSI and Chaikin Money Flow. I've highlighted notable points of support and resistance within the channel, as relative to the 200 MA and Fibonacci levels. Expecting a move back to the 61.8, and potentially the 200 MA/lower channel extreme.
History repeats. Reds are uptrend lines. Mega phone broadening wedges. Note gap and divergences similarities.
NASDAQ:AMGN Diamond top pattern on weekly with negative divergences in both the RSI and MACD indicate downward future direction. Based on height of overall pattern, pattern target is near $100. Should a break upward occur (not likely based on RSI and MACD), pattern target would be approximately $210. See Bulkowski High volume nodes and POC labeled.
OBV not following prices. Very unlikey INDEX:SPX makes a new ATH (All Time High), but even if this happens it should be unsustainable at this volume levels. A correction is the most likely scenario for the next 2-4 weeks.
I really would like to hear your feedbacks and opposite ideas.. Express yourself freely as the way you want. Because i will learn much more with this :)
in the 2 hour time frame both the MACD and RSI are showing bull divergence from today price action. I think this recent downward movement is overdone and expect to see a short term pop back up to resistance at 39.50
Oil will meet a huge resistance at around 39.8. The daily RSI also shows a divergence. These will result the pull back soon. But from time cycle analysis, the correction wave does not finish yet. After the pull back, oil might go up again to 43.5. Good luck for everyone!