TA discussion, page-6268

One thing I have noticed lately is that there is an increase is the number of times AJX closes in the top half of the days trading range. A down trend is characterized by almost always closing at or near the bottom of the days range - so a positive change there.

Also I have pivot points on my charts set for weekly (they can also be set for daily, hourly etc - mainly only used by professional day traders) The point is the bullish/ bearish pivot point for last week was 27c. The fact that we spent the entire week in the bullish range (above 27c) is a significant positive sign.

A lot of people are familiar with the RSI indicator and most charting packages have the default set to 14 but I also use RSI5 as a short term indicator - it went from heavily oversold on the 9th of march to just overbought on the 19th and is now just above neutral. But give a positive vibe to the chart.

Obviously nothing here guarantees an up trend is building, but is certainly a little more hopeful than I have seen in a while.

JFYI