We're still seeing lots of bearish divergence on several indicators and overbought conditions.
This HS formation is a sign of a coming correction to test 4800 levels and possibly lower. We still may see it go a little higher but with so much downward pressure from the ema's on larger time frames the bulls have little chance of breaking out above the 5200 lvls.
This HS formation is a sign of a coming correction to test 4800 levels and possibly lower. We still may see it go a little higher but with so much downward pressure from the ema's on larger time frames the bulls have little chance of breaking out above the 5200 lvls.
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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.