January 1, 2014

IWM Chart Analysis

  • IWM Daily chart shows price testing resistance line. Daily RSI is nearing overbought zone. Overbought RSI has given sideways to negative price action as shown in 2nd chart.
  • Last chart the weekly time frame shows the Negative Divergence which has not given a big correction yet. Bears need to break below the rising channel for a bigger down move to happen.
  • FACEBOOK Chart update

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