Head and Shoulders or Inverted Flag? Thoughts of a Noob
Close watch on march 5th: -expect price to reach 7.15 if inverted flag is confirmed -if flag confirmed look for MACD bullish zero crossover -if bullish zero crossover confirmed, expect RSI levels to be short-50s -expect price to reach 7.25 if right shoulder pattern is confirmed -if shoulder confirmed look for MACD signal crossover, RS probably not strong enough momentum to break death zone -look for low levels of RSI to confirm trend
**if MACD downtrend and price uptrend keeps up until March 5th, might discredit patterns **second longest oversold RSI period (prior was 70-d), currently 63 and counting -> if oversold period coincides with prior, may expect heavy downtrend -> historically, AGF shown bad reaction to overselling periods (i.e. not attractive enough to buy the dip?)
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