Rejection by the 100sma and 50sma on the weekly
Spent the last 5 weeks trying to break the 100sma (orange line) with no success. Broadly, it has been trying to break the 50sma (teal line) since June/July! Now both moving averages are converging.
It'll be important to see how this weekly candle close. If it resembles anything like the tombstone doji that we see now during the mid-week, it will likely fall.
It'll be important to see how this weekly candle close. If it resembles anything like the tombstone doji that we see now during the mid-week, it will likely fall.