MAERSK Uptrend
TREND
According to the wave structure, it is still in the downtrend
However, head and shoulders formation is a powerful reversal indicator.
It also formed a blue channel, now targeting the upper band
Moving Averages
20-day (Red) crosses 50-day (Orange) from down to up (powerful indicator supporting uptrend)
100-day (Turquoise) is below the current price (so supports uptrend)
200-day (Blue) is right below the current price (it becomes support now)
SUMMARY
Based on this analysis, a price action following the blue arrow is highly probable.
According to the wave structure, it is still in the downtrend
However, head and shoulders formation is a powerful reversal indicator.
It also formed a blue channel, now targeting the upper band
Moving Averages
20-day (Red) crosses 50-day (Orange) from down to up (powerful indicator supporting uptrend)
100-day (Turquoise) is below the current price (so supports uptrend)
200-day (Blue) is right below the current price (it becomes support now)
SUMMARY
Based on this analysis, a price action following the blue arrow is highly probable.
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