After several days of sideways, the outcome is not clear. However daily money flow and RSI have been holding strong on the significant 50 level. Both indicators formed a head and shoulders pattern that seems to be over now, leading to a period of consolidation or uptrend. I still don't feel the upward trend, but breakout over the 450 level would definitely start...
Seeing the way the MACD and MFI is acting, I would say there is significant risk to the downside. However if you are already long from the recent low, then I would probably look for a continuation of the more obvious trend Could we see a retest of the recent large red candles midpoint? Possibly. And then either re-enter the bearish channel or chug through the...
MYEC has been consolidated above the MA50 the past few sessions with low volume. After winning the best Check innovation award its time to update the chart on some supports and resistances. Support zone in the mid 0.0170's Resistance sits at 0.0220 and 0.0240 MA200 sits at 0.0233 Both the MACD and the money flow has shown positive divergence as seen in previous...
MYEC has some divergence with both the MFI and the MACD curling up. The RSI however put in a new low last wednesday. Volum is low, but im bullish as long as the 0.0160 level hold as support. First resistance comes in at 0.0177 area.
As you can see the Stoch RSI is in oversold area, the Money Flow Index (MFI) looks like it's going up and the Coppock Curve is at a low momentum.All of these correlations don't mean that the price can't fall lower, but it can mean that there is soon room for growth from this low starting point. Interestingly we are at Fibonacci Time Zone 3 based on last Summer's...
example of bullish divergence, double bullish bottom now forming, before good indicator that it would break out and turns out it did, now would be a good time to enter trade for a repeat?