Monday, March 23, 2015 1:15:41 PM
Could be an upcoming dividend involved on ADM, will have to check on that.
May drop after that if is the case
Weekly chart still in uptrend technically but MACD is below zero.
Would like to see a weekly close below $47 for more downside confidence
There is a synchronous event in studies in favor of downside as well on weekly chart
(most studies crossing cardinal elevation on same bar)
Almost looks more double top like on weekly chart.
Then again often T/A can be a hindsight discipline.
Looking to see how the T/A plays out on this one tho
May drop after that if is the case
Weekly chart still in uptrend technically but MACD is below zero.
Would like to see a weekly close below $47 for more downside confidence
There is a synchronous event in studies in favor of downside as well on weekly chart
(most studies crossing cardinal elevation on same bar)
Almost looks more double top like on weekly chart.
Then again often T/A can be a hindsight discipline.
Looking to see how the T/A plays out on this one tho
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