So we have LH HL So we starting a downtrend if we can get a 3rd low higher the trend could be set and looking to a projection of 128/125
Selling here with a sell stop on a break above the intersection. Thoughts?
This huge jump to the upside is still registering as a bullish move in a primary bearish trend. This move to the upside is likely a 4th wave of 5 to make up wave A of a 5-3-5 Zig Zag correction. Look for selling interest to return as price zeros in on the next couple Fibonacci levels. This should start wave 5 to complete wave A. This is a weekly chart, so a...
Selling interest likely to stay near the 61.8% level on the divergence. Thoughts?
I like seeing a rally to start the week, but so far there is not enough evidence yet to break key resistance. Selling interest should come in here near the previous low that was once support, but now is resistance. Until key resistance is taken out, the $2800 target is still in play (the target is marked with arrows).
With the price hitting the 61.8% Fibonacci extension level as resistance and sellers coming back to the market, the $3120 traget is still in play. Internal momentum is to the downside with an ADX showing strength for trend. Look for selling interest to continue. Thoughts?
The week is starting off with some selling interest as price drops to the top black trend line, which should remain as key support. There is also another near-term blue-dotted trend line that intersects where buyers are likely to be found. The RSI dropped lower, but remains inside the green bullish zone going forward. As the intersection of the two trend...
Price broke lower bearish trend line resistance and rallied higher last week. The upside target for the breakout (marked with black arrows) hit and found selling interest, or likely profit-taking near the objective. Selling interest also came in as the next upper red bearish trend line was tested. Price is slipping lower and is likely to test the red 61.8%...
After the market tried to rally and stalled into 50% resistance ($6,764), the pattern painted a bullish correction in an overall bearish market picture. The price touched the 50% retracement level last week and found selling interest. As price moved higher the ADX, which measures trend momentum, slipped lower. A weakening trend as price rises is a divergence...