Once again, the good old classical pattern that we all know. The case for it includes:
- Volume on the selloff was quite high, confirming the bear appetite
- Volume on right shoulder retrace quite weak, confirming bulls weakness
- MACD peaked straight on top and now signal following
- Breaking the neckline coincides with 50MA crossing
I'll play it safely and jump on it when the neck line breaks around 35. Target around 30's. This should play on the next 4 daily sessions.
Thanks for your comments.
- Volume on the selloff was quite high, confirming the bear appetite
- Volume on right shoulder retrace quite weak, confirming bulls weakness
- MACD peaked straight on top and now signal following
- Breaking the neckline coincides with 50MA crossing
I'll play it safely and jump on it when the neck line breaks around 35. Target around 30's. This should play on the next 4 daily sessions.
Thanks for your comments.
