TA’s playground becoming tighter each day

TA continue to consolidate inside a triangle since we saw it reach 2.68 last May. Today’s candlestick may be another lower high and price may go back to the support level where Kumo may also help support the price. The area for the price to move is getting tighter now and we might see a break from the triangle very soon. Normally Descending triangles are considered continuation pattern after the price consolidates. Let’s see if this is true this time.

RSI or Relative Strength Index is at 54

Caveat!

The following two tabs change content below.

felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

Leave a Reply

}