March 4, 2016
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Besides we advocate ABCD chart pattern, we also do MACD analysis. ABCD chart pattern gives the possible projection of the trend, MACD provide the strength and possible change in trend direction.
Divergence – Straits Times Index Moves
Look left and think right. We see price action in ranging; moving sideways and keep testing the same support. MACD is forming a higher high; showing weakness. It signals a potential in changing price action (index) may change in direction.
It is confirmed by golden crosses, and breakout of trendline.
March 4, 2016 Straits Times Index Daily
Moses Stocks Analysis and Scan
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