Will be watching for the red downtrend line break. The Fibonacci support around 15 is also a long term support
Ups and downs in life are very important to keep us going, because a straight line in an E.C.G means we are not alive.
- Ratan Tata
Touching the 2014 downtrend line. On the futures $KC chart this is a slight uptrend line. There is some divergence on weekly RSI and daily MACD as well. And there is talk of commodities turning around.
200 dma and trend channel support, after breakout from 2016 bottoming pattern.
Daily RSI oversold; Weekly RSI>50 and MACD>0
Optimistic target shown by dashed blue arrow - if indeed in stage two breakout as per screener.nextbigtrade.com
Plenty of gaps in this chart though.
Long Mar 16 '18 $18 Calls. Lets see how deep Out of the money calls pay off.
As a newbie, I follow a handful of people (screened over months). One of the low profile ones is www.youtube.com If I understand him correctly, the so called Trump rally is a wave B of an expanding flat. The logic is that the moves since then all seem to be in 3 waves, and from my interpretation could be a leading...
The price pattern since May can be seen as a bear flag or a potential bearish ascending triangle wave pattern. The RSI not giving any indications either. In addition, the market 'may' be on verge of big correction and this is not a very strongly performing ticker.
However the price is at 200 SMA and there is likelihood of shipping sector having bottomed. From...
IWM facing resistance from 2014 uptrend line. Also two degrees of rising wedge forming with continuing bearish divergence on 1 Day chart. ~14% drop in IWM to 38.2 fib level likely to correspond to the channel fill in SRTY.