Looked like breaking out on the upside but couldnot quite close there.
In close up
These were all Hour Chart
Momentum on Daily charts is weakening as shown by RSI & MACD divergence which failed to make new highs even though Price made new high for second day in succession.
Although the crucial channel resistance and diminishing momentum's indicaters are inclining me to create "anticipatory" shorts ( to try and catch prospective intermediate top) but going strictly by price-action,no weakness is seen as yet. So why short in anticipation?
At smallest degree(5min chart) a H&S pattern is visble and if neckline breaks, a downfall of 50 points may occur:
But weakness would be confirmed only below 6107:
No comments:
Post a Comment