The more higher the time frame, more relevance will have.
I always publish from weekly charts because Intra-day charts are very noisy for this kind of analysis,
but I do multiple time frame analysis.
I watch a weekly chart first for pick stocks then a daily and finally a 4-Hrs chart , this take time and need patience.
Now some technical aspects
1) The major trend line was broke between march and July; is a fact.
2) The Horizontal support line around 68.00 was broken too, is a fact
What more evidence you need?
And now 12/05/2018 at 22:15 ET the major indexes around the world are dropping, is a fact
i don't do predictions I only find stocks where the price action is evident.
I did not try to convince anyone with sophisticated jargon
just point out what is happening now, without making price predictions.
and use a very simple approach:
Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)
I always publish from weekly charts because Intra-day charts are very noisy for this kind of analysis,
but I do multiple time frame analysis.
I watch a weekly chart first for pick stocks then a daily and finally a 4-Hrs chart , this take time and need patience.
Now some technical aspects
1) The major trend line was broke between march and July; is a fact.
2) The Horizontal support line around 68.00 was broken too, is a fact
What more evidence you need?
And now 12/05/2018 at 22:15 ET the major indexes around the world are dropping, is a fact
i don't do predictions I only find stocks where the price action is evident.
I did not try to convince anyone with sophisticated jargon
just point out what is happening now, without making price predictions.
and use a very simple approach:
Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)