As we can see on the weekly chart different indicators suggested this strong correction:
- weekly RSI divergence
- volume divergence
First strong support id the weekly ma50. We will have a temporary bounce.
Then sideways until we kiss the lower channel
Before the next bull run begins weekly MACD and RSI need to cool down
This will take time, up to beginning of August
- weekly RSI divergence
- volume divergence
First strong support id the weekly ma50. We will have a temporary bounce.
Then sideways until we kiss the lower channel
Before the next bull run begins weekly MACD and RSI need to cool down
This will take time, up to beginning of August
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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.