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consumer staples index - consumer staples chart ?
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| consumer staples index - consumer staples chart |
consumer staples index - consumer staples chart
todays chart is all about consumer staples index - consumer staples chart
Well with all this HOOHA about Brexit and the FED, alot of charts out there have gone messy. I spent the most part of today, sorting through some of them for the blog, and I think I have something of importance. Have a look!....
consumer staples index - or the consumer staples chart [code : XLP]
The XLP chart has indeed thrown what I term an "F" flag pattern. You can see that since APRIL, we have had a very volatile time with this chart. There are huge and violent swings, so one must be careful, now that we are at the upper resistance line drawn on the chart. We are up at 54 right now, and at a make or break AREA.
I think the trend still remains bullish, but everytime we hit the resistance line, we see healthy pull backs. F flags have a tendancy to be more comparative to upwards flags, and in technical terms, they tend to be more bearish than anything. But we must not be flippant here, because above the 54 line is bullish, so what I would be looking for is a clean break of that line. If that was to occur we could be skyward bound. I can also argue, that we are having a very tough time to get up to this line and break through, as it keeps getting rejected every time. Its sort of a roof for now.
The MACD indicator on the bottom seems to be rolling over too, but its not on a SELL signal. We will see more volatile moves later in the when the BREXIT vote comes through.
I guess we will see, with nervousness with the FED and BREXIT next week, there are going to be big moves coming. That I can assure you. But are you ready for them, would be my question?
todays chart is all about consumer staples index - consumer staples chart
Well with all this HOOHA about Brexit and the FED, alot of charts out there have gone messy. I spent the most part of today, sorting through some of them for the blog, and I think I have something of importance. Have a look!....
consumer staples index - or the consumer staples chart [code : XLP]
The XLP chart has indeed thrown what I term an "F" flag pattern. You can see that since APRIL, we have had a very volatile time with this chart. There are huge and violent swings, so one must be careful, now that we are at the upper resistance line drawn on the chart. We are up at 54 right now, and at a make or break AREA.
I think the trend still remains bullish, but everytime we hit the resistance line, we see healthy pull backs. F flags have a tendancy to be more comparative to upwards flags, and in technical terms, they tend to be more bearish than anything. But we must not be flippant here, because above the 54 line is bullish, so what I would be looking for is a clean break of that line. If that was to occur we could be skyward bound. I can also argue, that we are having a very tough time to get up to this line and break through, as it keeps getting rejected every time. Its sort of a roof for now.
The MACD indicator on the bottom seems to be rolling over too, but its not on a SELL signal. We will see more volatile moves later in the when the BREXIT vote comes through.
I guess we will see, with nervousness with the FED and BREXIT next week, there are going to be big moves coming. That I can assure you. But are you ready for them, would be my question?
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