Repeated failure around 1080 area if followed by a daily close below 50-DMA of 1038 would confirm the bearish MACD crossover and open doors for a sell-off to 200-DMA level of 987.60.
Only a daily close above 1100 would open doors for a fresh rally to 200-DMA seen today at 1247.
The weekly chart clearly shows a bullish price-RSI divergence. Hence, the dip demand is likely so long as the prices stay above the July low of 973.
A minor retreat cannot be ruled out as the daily indicators show bullish exhaustion.
Price made big move on D1 chart, which remove more that 2 last valleys, so I wait on correction and then waiting on signal to sell on H1 chart. Showed on my chart TP is for me full potential move of price and I will not looking more, maybe will quit earlier, but for sure not than R/R 1:1
Daily chart pattern
Bullish symmetrical triangle breakout
Overbought money flow index for the first time after March 2015
Stuck at 50-DMA level of 1125.24
The daily chart suggests the bullish break from symmetrical triangle could be short lived. The only fact that remains in favor of bulls is the daily RSI, which is well short of overbought...
Easy Jet shares are top performers in FTSE100 index.
Shares are trading 2.13% higher on the day around 1100 levels. Prices have set a intraday high-low of 1127 and 1069 levels respectively.
Daily chart pattern – Symmetrical Triangle
A bullish day end close today would open doors for a rise to 1177 (July 14 high) and add credence to the view that a mid-term...
I have been long since around 1000 - think RSI needs to cool off a touch before an assault on 1175, will add on any weakness. Notional value of my trade is around £20k - £20ppp
Easy Jet shares have finally witnessed a relief rally of sorts. Prices clocked a low of 973 on July 26 before jumping to a high of 1080 today.
The question now is should we trust the corrective rally in the shares. Fundamentals do not support the rally in prices… travel stocks are anyways under pressure, furthermore strengthening of oil prices further is an...
With oil prices down and looking bearish, airliners may see a much needed corrective rally.
Easy Jet daily chart shows, rising bottoms on the hourly chart. As long as June 27 low of 990.50 is not breached on day end closing basis, the risk of a snap back to 1100 levels is high.
