Analyzing a horizontal compression pattern to determine future movement. Looking at MACD and Volume to support prediction. MACD indicates a possible downward bounce and Volume is lowering into the weekend as expected but over the course of the week volume has lessened intensity. All three of these combined trends are suggesting support is weakening and over...
it is a dangerous indicator if you are a trading a monthly swings . It lies allot :-) . 30 % picking Tops , better than weekly in some areas and worse than weekly in others. they are competing,weekly & monthly, who is more worse than the other ;-) wish you all the best.
According to the analysis with the help of MACD it is seen that MACD has touched the support levels and there are chances of most likely it would be bonced back and it's going to be an Uptrend. This is only an idea and my strategy. Please do your own analysic. This analysis is not recommended and do not take any responsibility for a loss or gain.