The selling interest have repeatedly run out of steam below 50-DMA since January 31.
We did have a daily close below 50-DMA on Feb 17, but that didn’t work out. So why would it work this time…?
Check out the DMI indicator. We have a bearish crossover, which didn’t exist on Feb 17. Furthermore, talk of Scottish referendum is gathering pace.
Thus, a daily close below 50-DMA could yield a sell-off to 1.2121 (lower bollinger band).
We did have a daily close below 50-DMA on Feb 17, but that didn’t work out. So why would it work this time…?
Check out the DMI indicator. We have a bearish crossover, which didn’t exist on Feb 17. Furthermore, talk of Scottish referendum is gathering pace.
Thus, a daily close below 50-DMA could yield a sell-off to 1.2121 (lower bollinger band).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.