here’s a long chart for you. the color of each box is where the price found support on the moving average of the same color. The green box indicates several MAs interacting at a previous key reversal area. The pink ones indicate where the price interacted with a long trend that IN MY OPINION is relevant. The dark purple vertical lines represent either oversold conditions, overbought conditions or a mean level between those conditions (with a few exceptions that should be obvious), where there was significant price reversal. the Blue horizontal line indicates where the long moving average touches the trend line I’ve drawn, and also a previous major support/resistance, and also a mean RSI level. all of the information aside from the trend line is statistical and draws itself on the screen. I try to limit my charts to one piece of bias each these days. Anyway, it can certainly go lower if the Market Maker doesn’t feel there is yet enough demand to support a major buying frenzy when he sends the price reversal signals. BUT, the Market Maker is sending the price reversal signals and the math is interacting in its eerie way, so expect activity soon (already happened as I was working on the chart).
There be dragons if the 5400 price level is broken.
MAs are 9, 21, 50, 100, 200 (dotted line).
Constructive feedback welcome.
There be dragons if the 5400 price level is broken.
MAs are 9, 21, 50, 100, 200 (dotted line).
Constructive feedback welcome.