Bullish divergence + MACD flip for fresh upwards momentum. Doesn't appear to be sustainable.
Needs to go over and stay above mid RSI to reinforce bullish move. Rejection at the mid-line is a sign of weakness.
Needs to go over and stay above mid RSI to reinforce bullish move. Rejection at the mid-line is a sign of weakness.
Note
Smart Money Index bounce is weak. Downtrend channel established for the possibility of 'slow bleed' before major dip.In another scenario,
DJI could rally one final time before a larger/longer sell offNote
looks like the second scenario is in playbroken downtrend channel = more upside action
Note
blood bath.Note
small buyers are trying to reverse this market, based on this formation. any movement up will be weak and met with strong resistancebut yes, it can still go higher from here before a major corrective wave
Note
as mentioned earlier, a major driver for upside action is for RSI to maintain its upward momentum, above 50+. It did not do that - based on the chart above
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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.