Confluence of support just above the psychological level of 3000... waiting for the candle to close...
Confluence of support just above the psychological level of 3000... Waiting for the candle to close.
overhead resistance at psychological $50 level Measured move = $52.40
Bullish pin (hammer) on support Confluence with 61.8% Fibonacci retracement level RSI Bullish Divergence
Bearish divergence Broke-down of its Rising Wedge (Converging Channel) Broke the neckline of its H&S topping pattern
Strong week for the aussie across the board, getting back to the upper band of its downtrend channel in $AUDUSD which coincides with the 61.8% Fibonacci retracement level of the Jan'16 low to Jan'18 high, i.e. confluence of strong resistance, good risk/reward area to go short
would like to see the volume in the next 2 sessions pick up.
Will the Tech sector be able to bounce off its uptrend line or will it break down? In relative terms, it broke down vs. the HSCI about a month ago... or just a false break a la 2013?
Breaks out of its resistance, on high volume (3x the 50-day average). Retraces back to breakout level on lower volume (less than 50-day average). Now price needs to bounce off this level and start a new uptrend to be a complete #textbook #breakout.
worth watching, in absolute and relative terms.
Strong sector Strong industry Nice breakout
waiting for the price action to confirm it...
Friday's close to confirm this weekly chart...
to confirm on Friday's close...
1. Break of support. 2. Retracement to breakdown level, confirming old support = new resistance. 3. Continuation of primary (down)trend.
Even when the market is down on the day, you can always find a few stocks that closed in green, those should get your attention... especially when: Higher than average volume Bullish engulfing (outside day) RSI in bullish range Clearly defined Risk/Reward