The Trouble With Scribbles

Sorry, not seeing what you are seeing on cash either. Perhaps post a chart.

 

That is what I am looking at on hourly.

 

Looks even more prominent Class A on 2 hour chart. Personally, I am banking that won't be much follow up to this, just a bounce to 2090 area, where selling ought to resume. As we have established quite a few years ago divergences in line with the trend are the most profitable ones as far as sustainability of move is concerned. Question is - what is the current trend and on which time frame?

 

Nice call so far Romik--and using the MACD.

 

Do the horizontal lines carry any significance on your chart?

 

I would say the Daily Trend is down along with weekly. If we were to close above yesterday's high, we might need to revisit that analysis

 

In my view yes. That Red one.

 

So you are looking at taking profits near the most recent reaction high on the 60?

 

What is your response to the question that would come up concerning the premature divergence that is showing on your chart?

 

Recent support levels that were broken.