Context:
Weekly - uptrend (UT)
Daily - downtrend (DT)
Last day:
Value moved down but left very poor and weak high
Special notes:
Daily RSI is in oversold. Price at DMA200 support
Conclusion:
A lot of selling in the last 10 days. Market is getting too short and needs to cover those shorts before moving further down. Last day indicates lack of strong sellers, which creates opportunity for short-term bull bounce. DMA200 provides logical support
Disclaimer
I don't give trading or investing advices, just sharing my thoughts
Weekly - uptrend (UT)
Daily - downtrend (DT)
Last day:
Value moved down but left very poor and weak high
Special notes:
Daily RSI is in oversold. Price at DMA200 support
Conclusion:
A lot of selling in the last 10 days. Market is getting too short and needs to cover those shorts before moving further down. Last day indicates lack of strong sellers, which creates opportunity for short-term bull bounce. DMA200 provides logical support
Disclaimer
I don't give trading or investing advices, just sharing my thoughts
Note
DMA200 got breached on the pre-market, next level to monitor 1820 (weekly pullback low)
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.
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.