ALK - Weekly - The weekly chart is handly in that the...

ALK - Weekly - The weekly chart is handly in that the significant pivots describing the bulk of the price action over the past 4 years can quickly be found. Note the spring below the bottom yellow tyne in Oct 2015 which other than that excursion, held strong. Note resistance at a few points on the -50% level and how the large upswing in the price came to an abrupt end at the yellow median. Note how price is now hovering near the -50% level of the yellow fork. The blue Schiff fork is also valid as its second warning line coincides with the yellow median. Note how price is now finding support on the top blue tyne of this week's incomplete bar. The daily is also quite instructive. I've copied over the yellow fork and zoomed in to the recent uptrend and fitted the red fork to it. Note how the lower trigger line for the red fork is just below current price action. In conclusion, price should find support around this level as alluded to by the -50% line of the yellow fork, the top tyne of the blue Schiff fork and the red trigger line.


FGR - Daily
The red fork has confined the most recent price action pretty well. Note the tightening of the price action between the gently ascending pink demand line and the yellow supply line which also doubles as the trigger line for the yellow fork. A breach of this is a strong buy signal. The yellow fork itself is quite interesting with price finding support on the median before slowly turning upwards. Price is now testing the break of the top yellow tyne having retraced from the yellow trigger line. This also coincides almost exactly with the lower blue tyne on Tuesday's bar. The intersection of two forks is often a strong point of support or resistance and tends to attract price to it.