Tuesday, September 16, 2014

MCP Update

MCP is still hanging in there, it hasn't violated the support zone I've been watching and the near and long term charts are improving.
 This larger bodied candle has held all of the real bodies for the last 5 days which is what I want to see or a break above would be better, but for now, this is good.

The 1 min chart is flying.

As is the 2 min

And 3 min... the point being, the trend in the area , a flat zone that usually attracts accumulation is showing the right divergences and the right closes.

The 30 min chat is looking excellent and we have a decent reversal process (yellow) in place on this chart as well as the daily.

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