What is the probability of this market going down? I would say much higher than going up for the months to come.
Monthly divergence at equal highs with MACD remaining below the zero line is a very strong reversal pattern especially on the higher timeframes as the monthly chart.
I am not saying it is the same as the pattern 10 years ago but it is quite similar and I am anticipating this one to move lower in the months to come.
Monthly divergence at equal highs with MACD remaining below the zero line is a very strong reversal pattern especially on the higher timeframes as the monthly chart.
I am not saying it is the same as the pattern 10 years ago but it is quite similar and I am anticipating this one to move lower in the months to come.
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And it seems like the idea is unfolding. Commodities are losing value.