The weekly chart (left) shows a large blue channel, with the market nearing the channels resistance. Also of note is the lift from 2017, this can be bound with a steep channel. In general we are watching to see which of these two channels hold/fail. The daily chart (right) gives a closer perspective of the […]
NKE had been in a strong down trend since the end of 2015; this was broken out of at the start of Feb. this year. The daily chart shows a lift through the down structures resistance and then a drop to retest it. It is possible that the retest is the start of a new […]
NKE has been falling off this year; currently at significant support (blue s/r zone). Breaking lower would have us looking to the next lower supports. Lifting has a channel (clue dashed) and blue s/r zone to go through, as well as the larger overall pattern resistance. Break of each offers opportunities – be cautious of […]
