Usually, bottoms in equity markets are when the 200 weekly SMA is touched. But the weekly MACD is already oversold. t could take weeks for the MACD to "recycle" and get back to overbought, so there is enough "ammunition" for the next leg down.
ChrisBrecher
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ChrisBrecher
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.