The last two times price touched $42 was in August ($42.10) and December ($42.03). Price hovered near $42 highs in November but didn't hold. Could also be a start of new impulsive wave to the downside. Might wait til the fed decision and cpi reports pass next week to get a second look.
$41.48 to $42.36 were two recent noteable highs since September. Price rejected the $41.50 area twice in November. Daily is oversold so we still need to be a bit careful here for the type of range trade we are looking for. Might wait til the fed decision and cpi reports pass next week to get a second look.
$24.17 was the high since consolidation started late September. Price has been trading in a range since. Might wait til the fed decision and cpi reports pass next week to get a second look.
Possible "ABC" forming if price doesn't break previous high. RSI isn't oversold but is nearing the 50 level. Looking for 25% to 50% retracement of the previous low (bottom horizontal line) What do you think?
Patterns look familiar? If price tests the 103.60's, could we see a repeat? Higher PPI report came out today. Interest Rate Decision next week. What could CPI read next week? So many factors to consider. Fed said they will slow the amount of hikes but may get more serious about the level of hikes if data doesn't show good indicators relative to inflation. Price...
Price trading sideways since 1PM CST today. RSI Overbought Shooting star forming on current candle. Current candle near a trend line high. 30 and 10 HMA Cross. Look for 25% -35% retracement from where current price is.
Potential Double Top (Rightmost Triangle) RSI Oversold Current candle is near trendline Looking for 25% from current price to previous low
Heavy resistance area. Looking for 25-50% of previous low (horizontal rays w/price labels). RSI overbought (hid indicator for more room on mobile chart publish).
Double top at resistance level? Price trading sideways since Dec 7th. Overbought RSI.
I really like this setup here. I started a leg a few moments ago. Price could go a bit lower but the narrative stays the same. Price did not break lower than the start of wave 1 yet. It usually retraces 61% from what I've seen. If price doesn't break the recent low, we could be headed for a wave 3 extension. Not sure if the full impulse wave will play out....
Let's keep this simple. Price may very well be exhausting still to the downside. A higher high has been made recently. The recent low hasn't made a lower low although it still could in the near future. Looking for price to test the recent high. What do you think?
Let's keep this simple. A new high has recently been made. Price did not break previous high. It still could by the way. There is a lower low that has recently been made. Looking price to retest the previous low that has been made.
Let's keep this simple. New high was made recently. A higher low is forming. Can price retest the previous high? I can see it rejecting the previous high and going lower. What do you think?
Let's see if price continues to melt down. Let's see if price reaches 38 to 50% retest of recent low. If price reaches 100-123%, we will look for short term long depending on price action.
Now that the long target has been reached, let's see if we get a retracement of 38 to 50% of the recent low. If price reaches 100 to123%, we will look for longs depending on price action. Previous idea is connected down below!
Bullish divergence on rsi? Double bottom indicator and lower low price action? Looking USD weakness after a strong FOMC day. Could price retest recent high to some degree?
Bearish RSI divergence with double top on indicator and higher high? Over extended bull run? Let's see if price retest the recent low.