The daily MACD buy divergence coupled with a trendless ADX suggest a up move to the 61.50 area. Also notice (see circle) the recent buy point (hook of the MACD fast line dipping into the slower upward MACD line).
Seth F. Wolff A ten year institutional market strategist formerly with IdeaGlobal & Charles Schwab (Cybertrader Corp) advising institutional clients in the equity,commodity and fixed income area, with prior roles in institutional research sales in North America. Seth has also appeared in media coverage including Dow Jones and Bloomberg. A graduate of the University of Arizona with a B.S. in Finance and continuing studies at NYU Graduate Business School, Seth has also been a member of the Market Technicians Association (MTA) since 1990.