Posts
The market never trigger our stop but instead went higher. The now rising ADX confirming its strength. It hit 2520 which is one of upside target, it would interesting to see whether the next target would be met at 2,705.
The daily chart MACD is still positive and rising and above its zero signal line.The Stochastic is now above he 80 signal line which usually interpreted by manys as "overbought". But since the ADX is rising now and last reached 26 which is telling us the trend is strong, so I would rather watch the MACD or the upper Bollinger Band as my stops at 2395.
The weekly chart last week DMI crossover buy signal was confirmed since a new high was registered. Prices have also closed above the middle Bollinger Band which is effectively a 20 SMA while the positive Stochastic continues to rise. All of which are adding to overall bullishness of this market. Even the ADX has turned flat instead continue to fall may be signaling the final change of the trend.
Secretly I have been wondering whether this market will go all the way up to 2,950 ?
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.