All the indicators are showing negative indications however you need to remember they are lagging.
They read / analyse / react.
Especially with the default settings having such large timeframes.
Does the price from 50 days ago relate to today - not really.
All my indicator timeframes are no longer than 10 days ago
Especially with the default settings having such large timeframes.
More important than indicators are trend lines. As you can see from the current trend lines we are in an asymmetrical triangle with a support at 30c. I was expecting it to drop down to 32c but then you need to read the candlesticks which convey the markets undecided sentiment.
Yesterday we had a bullish engulfing with very low volumes. today we have whats called an inside bar. It doesnt say which way it is going to go but when you see it so close to resistance & throw fundamentals at this you can take a hint that
its probably up.
http://www.tradingsetupsreview.com/10-price-action-bar-patterns-must-know/#insidebar
Either way it does go its clear that something is going to happen. Read up over the weekend to see how you should play it.
