on a weekly basis the trend however remains up.
1) the MACD is in bullish mode
2.) we are above the 50MA
3.) we are above the 21MA
4.) we above 13MA
5.) we are above the 9 MA and the 9MA crossed the 13 MA, which is bullish
considering also the record large short positions of commercials we would say that we are rather having a potential bullish reversal...
sbo sept 2016. Whilst the short position of the commercials is huge as evidenced by CFTC, which would generally be a sign of a major reversal, especially if some shortcovering starts, the daily chart published does not yet show any sign of a reversal.
indeed, (1)the MACD is still in a bearish mood until we see the blue line crosses the red one from the bottom.
(2)...
