November 13, 2013

IWM Bullish channel and Negative Divergence

  • IWM Bullish channel shows price consolidation for the next upper breakout. This stair step up move is likely to continue.
  • Weekly MACD Histogram and price shows good divergence, But this is of no use until price shows up some weakness. 
  • Immediate weakness below 107.14, Bigger time frame can confirm weakness only on closing below 20 week SMA.
  • CISCO Chart Analysis

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