Although the price has already made a steep decline, I thought this was a great opportunity to take a look at this ominous warning signal. The price made two consecutive high highs, yet the RSI and Stochastic oscillator both made two obvious lower highs at the same points. This is a perfect example of the power of divergences, in this case bearish divergence.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.