See attached weekly chart for 18 months. Donchian 100 day channel overlay on chart showing 100 day highs, lows and the mid point. The mid point line is at 72.25 cents. Today's low was 72 cents. So we saw a bounce off the mid line for the 3rd time since August. The price is currently in the 'watch' zone for those following a simple MACD/H system. MACD both short term and long term is bullish. Longer term MACH (momentum) is currently bullish but RED, ie falling.. Short term MACH is in Bearish territory and RED, ie Bearish and falling, ie losing strength. With momentum (MACH) losing strength both short and long term the question is will the SP keep falling? We do not know. Do you take a punt and buy or do you wait for a momentum pick up? Plenty will take the punt but those on the MACD/H system will wait until they show at least improvement in momentum and likely wait for a move of short term MACH into bullish territory. Its only on watch now and there are a few in that pond.
FFX Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
