The 30-minute chart is useful for day traders. The 8/34 MA cross is a useful signal for the hours ahead. The 8 MA is under the 34 MA forecasting lower prices for the hours ahead. Note, however, that price is above the 8 MA which will curl the 8 MA higher for a potential positive 8/34 MA cross early this week. For now, the bears are in charge. The green lines show the positive divergence, falling wedge pattern and oversold conditions that set up the launch pad for price to rocket higher (green arrow), in this 30-minute time frame.
There is a lot of sideways slop in that chart with price stumbling through 2083-2100 for the last 7 days. This year's top is the purple circle at 2111. Watch the 8/34 MA cross for an early indication that the bulls are fighting back, or not. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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