Someone take these dreams away,
That point me to another day,
A duel of personalities,
That stretch all true realities.
That keep calling me,
They keep calling me,
Keep on calling me,
They keep calling me.
Where figures from the past stand tall,
And mocking voices ring the halls.
Imperialistic house of prayer,
Conquistadors who took their share.
That keep calling me,
They keep calling me,
Keep on calling me,
They keep calling me…
– Joy Division, Dead Souls, 1980 (In memory of Ian Curtis, 1956-1980)
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A pop to new all time highs is met with profit-taking at the rising resistance / and long term magnet line.
The Osc oscillator shows momentum strengthening again indicating that there may be another wave of strength ahead.
The T volume oscillator rises slightly above its recent declining line and having made a small w pattern at its recent low is starting to display a bullish formation which may indicate further strength ahead in the form of a small T. This is the type of action that we look for at lows and to see this at an all time high is slightly unusual.
For now, these improvements indicate strong support for price at these levels – expect further probes to the upside whilst continuing to mark out the recent upper range.
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.