CCC
The long term trend based on a 45 bar moving average is up, but the short term trend based on a 9 bar moving average is down.
The current bar has penetrated the parabolic SAR generating a bearish signal.
Currently the ADX is falling. The falling ADX indicates that the current trend is weakening and may possibly reverse. A good possibility of a choppy market ahead.
OBV: A minor bullish divergence which is evidenced by a 5 bar new high indicates a rally is possible.
The SP is currently hovering at the bottom of the channel and going by the formation over the last few days, a reversal in the short term trend is likely.
But should there be a breach of support, the SP may fall to the next level of equilibrium, the high fives.
It wouldn't hurt to have a stop in place for piece of mind..
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- weekend charting 26/27 february
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