evening Wasa, in short, to early to tell and conflicting indicators. so 50:50, if not less. yes 13 is rough support (few pips either side), I have taken a small holding for just-in-case a jump. slimish chance, tight stop loss. Daily, RSI and MACD trading all but sideways, volume at the norm of 4-600. What concerns me is that the candles are trading below the 8ema, and the BBs are slightly opening. This would suggest more room to move downwards. Would be interested in slicks views on this, he knows BBs better than I.
Weekly, RSI and MACD have been in downtrend for months now and NO sign of relief. The contrarian view is that the SP is at or almost oversold levels, could be due for a turn around? Caution, oversold can go longer than one thinks too!
Summary for a ST trade there maybe a small bounce. M and L term, it will take some time to turn the SP around. Baring any left field Ann on FA. TA looks grim. Supports, briefly at 11.50, but 10 is the main one now. So not much help sorry, patience and sit on ones hands until the chart prints otherwise.
NEU Price at posting:
$13.01 Sentiment: None Disclosure: Held
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