Took longer to develop as the market decided to test the upper level of the 3 year trend channel
In the meantime, we had several bearish and bullish engulfing patterns and an up sloping trendline (orange) formed.
The previous highs made at 15.50 developed and formed a divergence with RSI and Stochastik. Spreads were stable but collapsed as SB sold of on Wednesday trough Friday. This divergence in the upper timeline of the 3 year downtrend channel provided resistance.
Downside target are the lower BBand as well as 50 day MA and 100 day MA IMHO
In the meantime, we had several bearish and bullish engulfing patterns and an up sloping trendline (orange) formed.
The previous highs made at 15.50 developed and formed a divergence with RSI and Stochastik. Spreads were stable but collapsed as SB sold of on Wednesday trough Friday. This divergence in the upper timeline of the 3 year downtrend channel provided resistance.
Downside target are the lower BBand as well as 50 day MA and 100 day MA IMHO
