Thursday, January 22, 2015

MCP Update

Nothing has changed much in the MCP charts I can see and trust, see the last MCP update from this week, MCP Update.

The same rounding bottom is still there with today's potential capitulation move.

 Huge volume intraday (10 min)...

Now on the daily, if price just comes off the lows, we have something to work with.

Usually I'd confirm with the short term 3C charts, but as explained in this week's earlier post, trade is too thin to get good signals on the short term charts needed for this kind of confirmation, otherwise, this looks exactly like the kind of set up I'd normally be buying calls in to.

Keep an eye on this one, a positive reversal candle on this volume is a significant change for MCP, especially considering the earlier charts posted this week and the rounding bottom.


No comments: