If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
It’s been a feast for bears operating on an hourly timeframe, as tef has now gone down 4 of the past 5 hours.
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.
This move is a reversal from the hour prior, which saw price move down.
This move is a reversal from the day prior, which saw price move up.
NYSEARCA:EFA, NYSEARCA:EWG, NYSE:TEVA, NYSE:MRK, NYSE:PFE, NYSE:JNJ, NYSE:WMT, NYSE:T, NYSE:VZ
NYSEARCA:EWP, NYSEARCA:FCG, NYSEARCA:GLDX, NYSEARCA:UNG, NYSEARCA:GDX, NYSE:STD, NYSE:TEF, NYSE:BBVA