AG weekly bullflag setup on Monday
Updated
Watching AG for a breakout on the weekly chart. Ideally want to see 2mill volume in the first hour to allow us to disregard hourly overbought rsi to some degree until closer to the upper 70s. Lack of resistance in this area because of the significance of the dump years ago. Be aware of overbought weekly chart and extended monthly chart.
Note
Lack of followthrough on the break is certainly a red flag for the weekly bullflag and may signify a weekly higher low is needed. Most important short term levels are the high and low of Wednesday, the daily inside bar, and as long as daily Higher lows remain in tact bulls are fine. Anything above 10.55 would be a daily higher low.
If the inside bar breaks bullish tomorrow bulls need to see followthrough with a close above 11.62 in order to negate red flag we're seeing on the lack of followthrough so far.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.