With main confluence from MACD , Stochastics, RSI and MTF EMA's, I am expecting a run to 69.28. Momentum looks to be rising on the Daily, but if you look closer on January 26th we see divergence on the MACD indicator (Orange). While price reached a low at that time, MACD has been steadily rising. Price has been driven lower through this time but MACD has been rising. This in connection with the RSI's and Stochastic's tell's me we are starting to see the run up. I committed to this trade on the 6th of June and don't plan on selling until profit target of 69.28. Depending on momentum once we've reached there, I will close part of my position to allow a possible ride to the golden pocket of the Fibonnaci indicator of .618 Ideally, this is a very technical play, I think with momentum showing to be on the higher side we should see a nice steady run up over the coming next week.
Stay tuned Im working on an indicator that will help visualize market volatility and momentum. The goal of the indicator is to help you understand current market strength which direction it's favoring. Before releasing, I am going to fine tune the indicator further to make it more profitable per back testing with python.
I'll release this indicator once it's ready at free cost for a limited time only.
@Gino_P1, price is falling from March and oscillator is making new highs
GreenDayTrade
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@alex13kou, Wouldn't that be a bullish divergence? Prior to march was the low and macd has only gone up since then + RSI is higher with todays move up than its been since march