1- No Harmonic formation at this point.
2- MACD Formation of Bullish Divergence is still in effect. Giving the strong Bearish push, it may pull back as correction and continue the Bearish move.
3- MACD Crossing & Direction is Bearish
4- Stochastic shows Oversold, but it will be temporary.
5- EMA 20_50_200 are all Bearish.
6- Weekly Analysis:
Price hit 52 Week Low (Yellow dot line) and it needs to bounce back up as it has puss now and will continue Bearish move.
However, On Monthly, it has been on a down trend for years.
My set up for trade is shown as usual with two stop loss.
04/16
2- MACD Formation of Bullish Divergence is still in effect. Giving the strong Bearish push, it may pull back as correction and continue the Bearish move.
3- MACD Crossing & Direction is Bearish
4- Stochastic shows Oversold, but it will be temporary.
5- EMA 20_50_200 are all Bearish.
6- Weekly Analysis:
Price hit 52 Week Low (Yellow dot line) and it needs to bounce back up as it has puss now and will continue Bearish move.
However, On Monthly, it has been on a down trend for years.
My set up for trade is shown as usual with two stop loss.
04/16