Replies to post #16820 on The TA Study Lounge

[Snap Hook]

APAC - Not a strong chart at this point to me. Rising wedge is indicative of a pending break down. The RSI failed to make a new high while PPS did. This constitutes a negative divergence, small though it may be, and volume is trending off. The ADX, though trending up looks to be breaking down with DI+ declining and crossing below the ADX, as opposed to ADX crossing above a rising DI+. The PPS has yet to return to the upper boundary of the short term uptrending channel, also a cautionary sign.

I think there are better buys out there.