ONT short trade
ONT is currently a good short.
The daily chart is bullish but pullback is needed, target is .0008-.00084
- it is at horizontal resistance
- it has a bearish divergence on the 1hr SRSI
- RSI is nearing overbought region
- it is currently in an ascending wedge, which is a weak pattern but tends to break down
- It is in the OTE entry zone for shorting
- It has a larger bearish divergence on the 4hr SRSI
- 4hr is on 8 count for Tom Demark Sequential
The daily chart is bullish but pullback is needed, target is .0008-.00084
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