The 60minute chart shows the 1-3 week trends with price is doing little with the upturned stochs for now. As suggested yesterday and this morning, a retest of that low at the 123.6 extension or a thrust lower to 162% is not out of the question.
Wednesday 10 December 2014
#dax $dax
I am going to be out of the office till this evening now and the market are still deciding what to do, me thinks - isn't it always!
The 4hr chart shows the monthly trend turning down and price below the 2month trend line now. I would still expect to see a push up into these, and the 4hr stochs are looking oversold.
The 60minute chart shows the 1-3 week trends with price is doing little with the upturned stochs for now. As suggested yesterday and this morning, a retest of that low at the 123.6 extension or a thrust lower to 162% is not out of the question.
The daily trend is currently bullish, but price is still under the daily open and the daily 50% retracement line, giving me no conviction to buy at the moment. I am looking for the 5 min stochs to go oversold with price above the daily trend band, and either above the daily open or close enough to make a concerted effort to rise. More hand sitting.
The 60minute chart shows the 1-3 week trends with price is doing little with the upturned stochs for now. As suggested yesterday and this morning, a retest of that low at the 123.6 extension or a thrust lower to 162% is not out of the question.
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