-Price is below upward sloping green channel;
-Price is below downward sloping green channel;
-price is below larger time scale 50% fib
-MACD MAY be putting in higher lows with price falling....
-Downward price range is complete
-Double bottom type W placed above the 61.8% fib
-SUPERSAR indicator giving off Sell Signal (not a great indicator in a sideways trending market
-MACD below zero
There is definitely a lot to prove the negative... moreso than the positive at this point in time. However there is enough for a very light long..
I wouldn't be putting the life savings until the downward sloping resistance has been pierced... you will miss out on the initial move thats for sure, but that is just me. change in trend is key for the big chunk of the portfolio plays.
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