Bear Wolf near strong SR level and SD area. RSI divergence is also showing.
Clear bullish momentum divergence being seen on SD with a pin bar yesterday that occurred on above average volume. Looking for SD to move back to $2.
Here's the crux of the matter: SD reported earnings after the bell today, and there was not much action after the release. The company presentation before the bell could have a big influence over the price action. This could be the catalyst that breaks the price action out of this triangle. There is a powerful set up to the upside here. One could take a long...
- CCI is showing overbuy - Supply level is touched and price is already showing reaction - Please use stoploss or hedge at supply level - Target is at Demand level (almost 1400 pips)
Fresh demand level reached. main trend is downtrend BTW. Williams %R also showing oversold. I'm expecting price will go up to the inner trendline level (also inside a fresh supply level)
Trend lines hasnt been broken. Fresh SD level is retested. CCI shows oversold. Im expecting the price will go up strongly.
A new supply demand level shown and has been retested. Trend lines also been broken.
Despite good retracement at 38.2%, downtrend is however losing its strength as shown in RSI oscillator. I'm expecting strong uptrend since the price has reached SD level originated from 8 September 2014.
Supply Demand revisited 4th times now. While CCI showing overbought in an uptrend, and also the momentum is good. Fibonacci also retracement at 23.6% is a strong indication that the price will go strongly uptrend.