Big downtrend instigated by Supply level, circled on the right. Down to a demand level, which started new uptrend with Higher Highs and Higher Lows consecutively.
Buying power has now pushed back into the supply level, unable to form a Higher High. It has now formed a double top and begun its downward phase. Just touching the 20ma aswell, and the MACD is indicating down.
Lots of signals to sell this IMO.
I'd be interested to hear any counter arguments.
Cheers.
Jordan.
Buying power has now pushed back into the supply level, unable to form a Higher High. It has now formed a double top and begun its downward phase. Just touching the 20ma aswell, and the MACD is indicating down.
Lots of signals to sell this IMO.
I'd be interested to hear any counter arguments.
Cheers.
Jordan.