You may remember yesterday's post about MCP's triangle and the break above that failed and me mentioning a break below that may also fail in a Crazy Ivan shakeout.
Well nothing on the 5 min chart or longer ha changed in MCP, the only thing that has changed is price dropped below as we suspected it might and the 1, 2, and 3 min intraday charts are all going in to positive divergences here, the 5 min and longer are already positive so if you are long MCP, it may be worth waiting a bit and seeing how this plays out, right now it's looking favorable
5 years ago
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