Technical indicators can lie. That's why technicians use more than one, to try & get the weight of evidence for what is really happening & even then everything is dependent on the next price bar, a tricky game to get right. Those who remember my Sunday Morning sermons will recall my blue line comments, while the price was above it, I was a happy camper.
Until .049 is traded below, we can take it as the bottom of this cycle. There are two sessions left this week to confirm five weeks of an increasing blue MACD Histogram which can be a leading indicator, as is the Relative Strength oscillator, now rising out of oversold territory. Commodity Channel Index is heading for the zero line.
While every Tom, Dick & @slick are trading the short-term moves, & good for them, the long-term holders will need to keep that blue line in their sights. Let's see how we go. imo dyor
IMU Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
