Triple top and likely shallow decline short-term

Jul 13, 2014

We can see tripple top forming on the 1h chart - and a lot of negative divergences: RSI, True Strength Index, Chalkin Money Flow. If the Tripple Top formation will complete, the decline will be modest $10. Interestingly, 4xForecaster got the same short-term support at $619 from much more sophisticated model. Long term (months) outlook remains bullish, although there is not much enthusiasm felt atm.