In the weekly graph we can see that the last 2 months Lower Highs has [parallel] followed the declining resistance since ATHs, +3 years ago. Will this week have the strength piercing both the short term and the long term declining resistance???
If you draw an horizontal line between now and May 2013 on the monthly, chart can see that this area of about 1600 was an important point a few times in the past, now it coincides, meets at the same level with the downtrend line you have drawn, if brakes up it will be a strong signal for an uptrend diversion.
SamuiTrader
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@decentSuccess16147, yes very true, double zeros often gives a strong support & resistance zone. And as you say a break above will be strong and so will a long shadow to the north [from a false breakthrough] be, which will signal one to look for shorting opportunities.
Lukiros
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it's looks like bearish divergent too me through. I mean set could go up higher but still looks like bearish divergent.
SamuiTrader
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@Lukiros, yeah if history will repeats itself...down we go