So there’s the proof. Not all chart readers read it the same way.
I will say there is merit in charts and many here have learned the significance from dolphin. He’s not always bullish or a bear he calls it the way he sees it.
One cannot over estimate the power of humility and effective communication skills.
Bollinger Bands are NOTpinched. Look again. For the bollinger bands to be "piched the upper and lower bands would come near together . then a resolution would occur and either it moves up or down ... not always up. RSI is neutral and the MACD is following a negative slope. The bearish formation is the Head and Shoulders on a 3 month chart pointed out. Williams %R is neutral; not Overbought-Not Oversold. No conclusion.
As I pointed out in yesterdays post, up trend lines were broken.See the post and connect the lines ... up and down.
The chartist is comparing the big move up starting in late March to now. They are different as are some of the indicators now from then. therefore no conclusion can be gleaned from that conclusion.
There is nothing technical to suggest another major move up is in the offing with some argument that it will not.
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