The weekly MACD histogram is about to cross the centre line, should attract some attention. The weekly chart blots out a lot of the daily noise and looks pretty solid. The break above the gap (63.5) is still a bit elusive with some supply still to overcome but looks inevitable barring the unexpected. Maybe a day or two looks possible if the market holds up ok. The US futures are flat at the moment (9PM).
It is possible that when it does break and close above 63.5 cents that it will see a retest around this area to follow which would confirm 63.5 then as support if it happens. A pretty common event in these situations but normally not a worrying sign. Although the weekly shows one false break there has actually been two as you can see on the daily. Those false breaks are a bit annoying but do serve to mop up some of ths supply so not all bad.
Weekly COB
AJX Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
