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Re: U.S.$ Index/Breaking out/Ncutt *PIC*
In Response To: Re: U.S.$ Index/Breaking out ()

Jeez, you must be psycic! I was just looking at DX and about to post this chart.

DX just tagged 82 which is the top of the long term channel resistance area and spun its wheels there for 3 days. Price needs to clear 82 and hold to suggest a run to an 84 double top. While this seems likely resistance is resistance and will take some doing to do this. With price back in the 81 to 82 zone all DX has to do now is to hold in this area and consolidate to remain healthy and strong. Expecting price to blow through 82 quickly after a vertical run up from 79 is expecting a lot and is presently very overbought. Note the RSI 21 reaching the very overbought 70 level and backing off. I would expect some sideways consolidation for awhile before anymore upside. But price action is bullish.

Messages In This Thread

U.S.$ Index/Breaking out *PIC*
Re: U.S.$ Index/Breaking out
Re: U.S.$ Index/Breaking out/Ncutt *PIC*