1)I applied 2 moving averages on prices which have 5 period(red one) 20 period(green one) have cut each other and we got buy sign this week because we had to wait at the end of this week's closing candlestick on prices.
2) Also i have drawn resistance lines on prices and they have been broken this week with green candlestick. This is another buy sign.
3) RSI indicator has broken its resistance line this week and it will increase soon in my opinion. Also its 2 moving averages which are purple and green have cut each other.
4) Momentum has broken its resistance line this week. Also i applied SMA(8 period) on Momentum indicator. Momentum cut above its moving average and it is another buy sign.
5) MACD lost its strong down trend power as you saw. As i showed you on indicator, red bars are going sideways not going down showed us maybe reversal trend can occur.
2) Also i have drawn resistance lines on prices and they have been broken this week with green candlestick. This is another buy sign.
3) RSI indicator has broken its resistance line this week and it will increase soon in my opinion. Also its 2 moving averages which are purple and green have cut each other.
4) Momentum has broken its resistance line this week. Also i applied SMA(8 period) on Momentum indicator. Momentum cut above its moving average and it is another buy sign.
5) MACD lost its strong down trend power as you saw. As i showed you on indicator, red bars are going sideways not going down showed us maybe reversal trend can occur.
Comment:
Yeah I shared my idea very long time ago and resistance lines have been broken but new ones happened. I drew again and i uploaded my idea! Descending Triangle Chart Pattern has occurred on Momentum and Support line was broken 2 weeks ago. It will decrease more.
Comment:
Monthly Chart!
Comment:
2 days ago i wrote sth wrong in my analysis. Falling Wedge on Momentum not Descending Triangle!