We formed a doji candlestick today. It could just be the market taking a breather, but it's placement on the chart has me thinking possible top. First, it's taking place in my resistance zone @ the 361/461 Fib combo. Second, the RSI shows bullish divergence. Third, the doji formed @ the monthly R1 pivot. And finally, we already have a bearish MACD crossover. I would definitely start thinking of putting on some small bearish positions. At the very least, if long, I would be thinking of taking profits up here.
Thursday, March 16, 2017
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