ArcellorMittal - SHORT - bearish divergence
Updated
Bearish divergence on the last top. Increasing price but declining money flow. Declining volumes.
I do not expect MT to be able to make a new high from here, indicators say it will make a lower high and then pullback, but of course we love surprises.
Would wait till end of the trading day to see what USA opening does before deciding to enter a short at this level.
Trade safe!
I do not expect MT to be able to make a new high from here, indicators say it will make a lower high and then pullback, but of course we love surprises.
Would wait till end of the trading day to see what USA opening does before deciding to enter a short at this level.
Trade safe!
Order cancelled
we moved higher and now are pulling back, if stochastics dive below 80 the chance of resuming an uptrend will depend on how low we go for the cycle to complete and bottom out. Or in other words, when stoch indicates oversold, how low are we? if we took at previous higher lows on the way down it's hard to imagine this going much higher.
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