Although I can't rule out MCP building a larger base, I am inclined to think it has at least a decent swing move in it.
MCP daily chart looks like capitulation at the red arrow, support formed and there was a break below support at the yellow area that created a lot of supply, you'll see that was accumulated in the next chart.
Here's the break below support at the yellow area with a 30 min leading positive divergence as the volume/supply created was accumulated, then we have a pullback signal at the red arrow.
Since however, the 3 min chart is leading positive as it seems MCP is accumulated at lower prices.
That divergence migrated to the longer and more important 5 min chart where it saw another positive divergence on today's intraday low.
So far so good for MCP.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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