Bearish Channel: Weekly
Just a weekly look at how things are setting up..
Closed below the 21 weekly EMA, now looking at the 55, and possibly the 100 to stay in the channel.
200 MA in green bringing up the rear.
IF, it stays below the 21 EMA, then I think this is bearish to the downside, but if it were to break above it, and break out of this channel for a couple of weeks, then maybe we are on a positive wave.
It really isn't giving information either way yet, only that closing below the 21 weekly average is not good.
Closed below the 21 weekly EMA, now looking at the 55, and possibly the 100 to stay in the channel.
200 MA in green bringing up the rear.
IF, it stays below the 21 EMA, then I think this is bearish to the downside, but if it were to break above it, and break out of this channel for a couple of weeks, then maybe we are on a positive wave.
It really isn't giving information either way yet, only that closing below the 21 weekly average is not good.
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