Same old Same old… not much change on this chart at all.
This market busted through a near-term dotted trend line to the upside, but the needed momentum to back it up has dried up. The Average Directional Index (ADX) line was trying to turn higher to show some trend strength building, but has fizzled out a bit. The directional index lines are all knotted up and on low momentum… a range-bound week ahead.
A signal for more range-bound trading within support 1 and resistance 1.
Weekly S/R
Critical Resistance: $7.360
Key Resistance: $5.650
Key Support: $4.620
Critical Support: $4.163
This market busted through a near-term dotted trend line to the upside, but the needed momentum to back it up has dried up. The Average Directional Index (ADX) line was trying to turn higher to show some trend strength building, but has fizzled out a bit. The directional index lines are all knotted up and on low momentum… a range-bound week ahead.
A signal for more range-bound trading within support 1 and resistance 1.
Weekly S/R
Critical Resistance: $7.360
Key Resistance: $5.650
Key Support: $4.620
Critical Support: $4.163