The MACD Line is:
- At zero when the two exponential moving averages are just crossing and their values are equal.
- Positive and rising when the shorter EMA is above the longer EMA and is moving further away from it (market's bullish momentum is accelerating).
- Negative and falling when the shorter EMA is below the longer EMA and is moving further away from it (market's bearish momentum is accelerating).
- Positive but falling when the shorter EMA is above the longer EMA, but they are converging (the bullish momentum in the market is fading).
- Negative but increasing when the shorter EMA is below the longer EMA, but they are converging (the bearish momentum in the market is fading).