There's a couple of things in play on this chart. And I think we'll know by close of play tomorrow what's in store for Aviva.
1. Aviva rejected a climb back up early last week. At the time it was blamed on Trump's strike on Iran, impacting the insurance industry who are always itchy around risk. However.....
2. It continue to reject previous highs and had a strong downturn on friday, resuming a longstanding slight downward trend.
3. That said, we can see on the weekly and daily chart that there is a trend line rising up from below - this is exactly where price currently is.
4. I'd like to see it break the moving average below price for it to signal a possible short.
Best of luck to everyone and Happy Trading!
AV.
1. Aviva rejected a climb back up early last week. At the time it was blamed on Trump's strike on Iran, impacting the insurance industry who are always itchy around risk. However.....
2. It continue to reject previous highs and had a strong downturn on friday, resuming a longstanding slight downward trend.
3. That said, we can see on the weekly and daily chart that there is a trend line rising up from below - this is exactly where price currently is.
4. I'd like to see it break the moving average below price for it to signal a possible short.
Best of luck to everyone and Happy Trading!
AV.