Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

OPHR daily 10/07/13

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 3350
  • 0 Comments
  • Subscribe to this entry
  • Print
3350
Picture
Today's gap down came after a higher high but seems to confirm a negative RSI divergence against the earlier high which is bearish.

It also failed to reach the 423p target from the W formation so it now seems to me that this rally was simply a corrective pattern despite the bullish RSI divergence at the recent low. It's not clear from the chart as shown, but yesterday's price high came as the RSI touched it's downtrend resistance which shouldn't really have happened until price was close to its downtrend and this adds to the bearish nature of the chart now.

I'll be steering clear of this until a clearer opportunity 
0
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Friday, 22 November 2024