A little Technical Analysis may be interesting here. It has no emotion!
The Moving Averge - Weighted Indicator has changed direction. Now the trend is UP! Most overbought / oversold indicators (i.e. Stochastics, %R, etc.) are oversold long term. Looking exclusively at Stochastics the short term trend looks a little bottomy. A possible short term up move may now occur. MACD has issued a bullish signal. A bullish signal is generated when the FastMA crosses above the SlowMA, as it has here.
The long term trend, based on a 45 bar moving average, is DOWN. But the short term trend, based on a 9 bar moving average, is UP. MACD has issued a bullish signal, suggesting that the short term upward trend may continue, and may indicate a pending reversal in the long term trend. Volume is trending higher, allowing for a pick up in volatility. The Commodity Channel Indicator (at 12.86) has crossed above zero, issuing a signal to close short positions and initiate long positions.
May be smoke and mirrors but no emotional hype. |
