January 3, 2018

IWM Month Staying on the Wrong side

  • One of the readers sent me a query on the Rising wedge of IWM in the month time frame.
  • Although it has been 3 Months outside the pattern this can still become a False breakout. Bears doesn't want to see new high's though. False breakout on this time frame can only be confirmed on price breaking below 143 levels.

CRUDE Oil Chart Analysis

  • Crude oil one hour cloud continues to act as support. Trending move will continue till price stay above the cloud.
  • Hour with MACD is showing negative divergence.
  • An Hourly sell looks possible from resistance line around 61 levels for the Negative divergence.