Looks to be losing momentum.The horizontal lines are 38 and 50% retracements.Does not inspire me with confidence that Japan may be starting a bull market.
The West That Was: America, 1910
46 minutes ago
Subscribe to:
Post Comments (Atom)
CR, that chart actually looks pretty bullish to me. A multi-year double bottom and price emerging strongly. Why do you believe that it is losing momentum?
ReplyDeletethe MACD histograms...
ReplyDeletewith a low at 60 we need to see how price resistance at 90 (50%) is dealt with.My
ReplyDeleteinclination would be to sell but if it can break through 90....Yen weakness is the big plus factor for Japanese exporters,but global demand is slowing
also we have failed twice now below 50% ,which is a sign of weakness.A 3rd failure would likely result in a strong selloff
ReplyDeleteMACD is not a real good indicator in my mind.
ReplyDeleteI'd rather trade off of PRICE... which incidentally went out on the highs of the week, taking out the previous week's high.
It's not losing momentum.
I think MACD is suggesting momentum loss but that in itself doesn't mean it will not go higher.This is a Gann 3rd attempt at a level.The rule is that they usually succeed on 3 but watch for fast reverse if it fails
ReplyDelete