ta observations, page-103

Hello.

Today's observation..

EMA - positive
DMI - bullish territory.
Linear regression - positive
Parabolic - is long and in bullish territory (also showing some strengthening in the uptrend)
Volatility - in an uptrend and volume trending higher
Volume Oscillator & VROC - overall looks bullish

Bollinger Bands - overbought condition
Rate of Change - (50.00) indicates an overbought condition
Momentum - overbought
RSI - somewhat overbought (56.24)
TRIX - bearish territory (but oversold -65.33)
Ultimate Oscillator - currently a minor bearish divergence indicates a decline is possible.
Williams Acc-Dis - suggests a decline is likely here
MACD - currently in bearish territory (but short term rally possible within next few trading days)

Looks like it was met with some resistance at the low nines today, but great to see it break out of the short term downtrend.

Currently appears a bit overbought, though it could remain in this condition longer.

Maximum downside potential currently appears to be at the vicinity of the high 6’s. (not saying it will get there!)
Whereas 12.0 can’t be ruled out for the short term upside IMO.

How low could it retrace tomorrow should the possibility arise? (if so)
That former 8.1 resistance level is one possibility for the game hearted. And around the mid 7’s is another one. (perhaps)

Also, will it begin with weakness in the morning and end this week with strength? (preferably the mid nines or higher would be ideal)
Or will is it vise versa?

Datz a good question, butt je ne sais pas!

GLTAD