Made with TS.
Bollinger Bands (Indicator):
Conventional Interpretation: The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band.
Additional Analysis: The market is in oversold territory.
MACD (Indicator):
Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the fast moving average crosses above or below the slow moving average.
Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is DOWN. MACD is in bullish territory. However, the recent downturn in the MACD average may indicate a short term decline within the next few bars.
TRIX (Indicator):
Conventional Interpretation: TRIX (16.20) is above zero, indicating an overbought market.
Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is DOWN. TRIX is indicating an overbought market, and appears to be slowing. A modest downturn is possible here.
ADX (Indicator):
Conventional Interpretation: ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend while a falling ADX suggests a weakening trend which is subject to reversal. Currently the ADX is falling.
Additional Analysis: The long term trend, based on a 45 bar moving average, is up. However, a falling ADX indicates that the current trend is weakening and may possibly reverse. Look for a choppy market ahead.
Average True Range (Indicator):
Conventional Interpretation: Average True Range measures relative volatility. Most analysts associate periods of relatively low volatility with market bottoms, while periods of higher than average volatility tend to indicate market tops.
Additional Analysis: Average True Range just reached an 18 bar low, offering some evidence that a bottom is forming here.
Expert Analyst (Indicator):
Long Term Outlook: The major trend is up. A rising ADX value suggests a continuation in the current trend. Most Moving Average studies, and Bollinger Bands are bearish for the long term, suggesting lower levels ahead.
Short Term Outlook: The short term trend has changed from up to down. Most trend following indicators (i.e. Moving Averages, Bollinger Bands, etc.) are in bearish territory short term, indicating that a decline is likely. However, a short term trading rally is possible here as the market finds some support near the lower Bollinger Band. Looking exclusively at Stochastics: The short term trend looks a little toppy. A possible short term down move may occur.
No comments:
Post a Comment