The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
This move is a reversal from the hour prior, which saw price move up.
It’s been a feast for bulls operating on the daily timeframe, as sm has now gone up 4 of the past 5 days.
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NYSE:IOIL, NASDAQ:PSCE, NYSE:XOM, NYSE:CVX, NYSE:SM, NYSE:OAS, NYSE:UBS, NYSE:SWN, NYSE:COG