We are clearly moving into these channel to come back on a trend line. Still bullish
there are 3 possible trendline:
1) Green .. extremely bullish, it would represent an further accelerating trend
2) Blue... bullish
3) Red... smooth bullish
After Major corrections RSI hitted the 30% (see the circles) opening to a new bull run. It happened 2 times and as things come in three, why should it do an exception now?
What confirm me this supposition?
Last RSI Spike on the 1 Day chart was the highest in the last 3 years. If in the high we are really bullish, why should we transform suddendly in a raging bear bringing us to ultra oversold zone? Moreover RSI decrease is now slowing down.
For these two reasons I'm almost sure that hitting the 30% of the RSI it will open to a long antigravitational trade.
there are 3 possible trendline:
1) Green .. extremely bullish, it would represent an further accelerating trend
2) Blue... bullish
3) Red... smooth bullish
After Major corrections RSI hitted the 30% (see the circles) opening to a new bull run. It happened 2 times and as things come in three, why should it do an exception now?
What confirm me this supposition?
Last RSI Spike on the 1 Day chart was the highest in the last 3 years. If in the high we are really bullish, why should we transform suddendly in a raging bear bringing us to ultra oversold zone? Moreover RSI decrease is now slowing down.
For these two reasons I'm almost sure that hitting the 30% of the RSI it will open to a long antigravitational trade.
Note
Seems to hold the trend line..
But the 30% RSI in the 1 Day Chart is a little bit lower
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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.