hug the bear

٣١ ديسمبر ٢٠١٦

i see a hammer at the top of the bollinger band and a breakout has also occurred as well. The 50 sma has also crossed over on the 200 sma which shows the bears are gaining strength. There is also a descending triangle that has formed as well and confirms the strength of the bears. If you check the 4hr time frame and the weekly you can see that there is a strong downward movement. The weekly broke out the 200 sma and went up to retest the moving average which brought along a doji which could indicate a change in direction in favor of the bears. No confirmation is needed on the daily cause the shadow of the hammer is long and this i believe will be a rally downwards.