Price has been stopped by the Upper Median Line for the 2nd time in 2 weeks. Should the price fail to penetrate this resistance, there is a good chance that it will give back some of its gains this week (0.764 retracement/blue triangle zone).
Either wait for a bearish close before entering for the conservative or enter a sell trade with a S/L just above the high...
Price has been rejected by Median Line (black) and 50% Median line (red). This signals a strong down trend for the coming weeks. Currently price is at around 107.8. Estimated that price will fall to 103.8 (Blue triangle).
On the upside, price should stay within the green triangle zone.
Daily trend points to price moving down further to around 106.00 region
On 30 min charts, price is held by lower Median line. There is a chance of correction back to Median line.
Can consider to sell at Median Line to join the down trend.
Possible chance that price might not retrace but instead fall through the Lower Median Line. Can put in a sell order below the...
Weekly median line and trendline (red) has managed to hold price down
Outlook for the coming week or 2 remains bearish
If price breaks 108.130 previous low, probable that price will go down to 106.80 region (0.786 retracement).
Weekly chart (Right)
StochRSI, DirectionalMI and MA points to down trend.
Monthly scale support broken
Daily chart (Left)
Price broke through 50% retracement. Testing support second time at the 1st Warning Line.
Slight divergence in StochRSI signals possible rebound to 50% retracement before price moves down again to 0.236 region.
Possible entry price @...
Weekly chart
SMA downtrend
StochRSI and DirectionalMovement support downtrend
Expected T/P at 1.456
Daily Chart
Price retreated from Daily 0.5 and warning line of Pitchfork
Directional movement and StochRSI support downtrend
Possible first price support and rebound at UML of Pitchfork. Whether price will reach 1.456 will depend if...
Price have drifted away from the Upper Median Line of Blue Pitchfork which acts as a support.
Price broke through Red Pitchfork and CCI on bullish trend signals a buying opportunity.
Upside is capped by the 50% daily and 0.236 monthly Fib retracement.
Expecting price to resume fall after hitting the retracement zone
Long term bearish outlook from the slope of the Pitchfork (PF).
Strong breakout from longer term PF was met with strong selling the next day on 10/12/2015. Resistance at 50% retracement (1.10023)
Price should test the long term PF Upper Median Line for support. If support fails, downtrend should resume to the .236 retracement level.
Barring any surprises from...
Price unable to break through median line.
CCI crosses -100 level upwards
Overhead resistance at 0.5 Fib level (1.2109)
Downtrend resumes when 0.618 level is broken
