Chartered (C27) Update

There is bearish divergence between the Price rises against the Accumulation/Distribution drops. OBV, ADX and Momentum already slacked miserably. Stochastic (-ve crossed) and RSI shown their most fearfully plunge from an Overbought territory. ROC went under its testing 10 Day MA. This throws insight of a bearish environment. From the MACD Histogram, we can ascertain that the strength of price rising has been weakened due to its dropping envelopes and its last envelope’s height which was shorter in comparison with the depth of the preceding MACD trough. The biggest bad omen is a spin top surfaced, terminating its preceding upraise. If another black candle appears, traders ought to be very cautious as we will be moving close to a deep curl downward.