We are currently developing the impulse (wave C). The 13 MA is below the 55 MA, indicating a slowdown in the movement. In the RSI Difference indicator, the RSI is between the 13 and 55 SMAs and has failed to surpass the 55 SMA, signaling the continuation of the wave C. The final confirmation for this movement will be the 55 EMA turning downward.
🔍 Insights from Weekly Timeframe: Divergences and RSI positioning below both SMAs reinforce the likelihood of a continued downtrend.
🔍 Insights from Weekly Timeframe: Divergences and RSI positioning below both SMAs reinforce the likelihood of a continued downtrend.
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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.