How old is that post. 20DMA is moving higher It's the purple line on my chart.
I have no time for any chartist that uses the 5DMA as any form of indicator of a trend. it maybe of some use to day traders but I don't play that game. I don't use the 20DMA either.
On my the daily chart I use the 10DMA (green) and the 40DMA (red) . Notice in my chart that yesterday (green ellipse) the 10DMA crossed above the 40DMA which for me is a mild bullish indicator. on the 11 Sep there was the reverse whereby the 10DMA moved below the 40DMA (red ellipse) was a bearish indicator.
It stays bullish until the reverse happens again. The previous last bullish ellipse lasted for 3 months before the reverse happened.
Notice on my chart that we have had a bullish MACD for about 20 days. On the previous bullish run it lasted for two months.
On the weekly charts I use the 10WMA and the 40WMA they are a stronger signal of serious trend change. I have a very significant bullish signal that may or may not play out this week (to be confirmed next week). The low of this weeks weekly candle needs to stay at 61c or above.
If this weekly candle low hits 60 which touches the 10WMA then no very strong bullish signal for me yet and then need to wait for next weeks action.
In summary I don't have a lot of confidence in the chartist information you posted.
On the daily charts we do have a mild bullish signal at that green ellipse and confirmation from the MACD.
Just my opinion DYOR
cheers Lies
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