Hi guys, this has caught my attention recently and you can clearly see the red resistance currently being played with.
RSI looks very much overbought and in need of a big breath, and a big breath usually brings a lot of turbulence - Just like holding your breath for 3 minutes (which have great benefits btw!)
Markets seem a bit iffy at the moment and are also rather turbulent.
RSI looks very much overbought and in need of a big breath, and a big breath usually brings a lot of turbulence - Just like holding your breath for 3 minutes (which have great benefits btw!)
Markets seem a bit iffy at the moment and are also rather turbulent.
Note
As you can see 2011/2012 saw perfect action for resistance confirmation.
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2014 saw bits of activity
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And here again in Sep 18
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Today, right now, on the 4hr it looks like this.
Trade active
There have been a lot of short sellers caught in this oil bullish wave and this might just keep pushing. But analyse this and use your tools to determine confirmations etc before making any decisions!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.