First a quick look at the daily chart where we see the strong uptrend that started when price action broke above $1,300, as reflected by the green technical set-up line, has weakened with ADX numbers dropping from 40 to 26.8 and DI Differential found on the Futures Strategizer at Trends in Futures is well under 5.00. MACD has dropped divergence from above the signal line and Stochastics are correcting from overbought territory like we saw late July.
Click to enlarge.
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