HGX Weekly -- Housing is at a critical juncture
After a double top, and what appears to be a double bottom, Philadelphia Housing Index sits right on the 50% fib and just on the top edge of the cloud resistance. It is near the 1.27% Gartley extension (point B to D).
Encouraging is the strengthening 12 week RSI (yellow highlight). Next few weeks will tell whether we reverse back off this or break through resistance to new highs.
Encouraging is the strengthening 12 week RSI (yellow highlight). Next few weeks will tell whether we reverse back off this or break through resistance to new highs.