While elliott wave counts are fuzzy and the market is up by 100+ pts today. I just thought i would mention something of interest on the daily chart, especially since i think that todays reactionary up move will quickly be met by selling.
Sometimes the simple text book patterns do work out. The RSI is highest at the left shoulder the head shows some divergence at the and finally further lows on the right shoulder forming. The neckline is very visible along with the green line that is the 200DMA, currently providing support. Should this break we will quickly be testing the 17400 levels. This week should provide answers for the next few months.
Sometimes the simple text book patterns do work out. The RSI is highest at the left shoulder the head shows some divergence at the and finally further lows on the right shoulder forming. The neckline is very visible along with the green line that is the 200DMA, currently providing support. Should this break we will quickly be testing the 17400 levels. This week should provide answers for the next few months.
No comments:
Post a Comment