AGNC going up or down?
This chart only shows price and some channels/slopes.
We have both a down trending slope with bullish context as resistance has now become support but also have an up trending slope with bearish context as support is now resistance. I have highlighted the lines I am watching in green. I am just waiting to see which slope shows me that it is in control. I am short term bearish as there is a H&S pattern that has broke and still under the neckline but long term bullish as MACD is showing bullish divergence as price has declined.
See my other post on AGNC regarding the MACD divergence.
We have both a down trending slope with bullish context as resistance has now become support but also have an up trending slope with bearish context as support is now resistance. I have highlighted the lines I am watching in green. I am just waiting to see which slope shows me that it is in control. I am short term bearish as there is a H&S pattern that has broke and still under the neckline but long term bullish as MACD is showing bullish divergence as price has declined.
See my other post on AGNC regarding the MACD divergence.
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