RSI bearish divergence break?
RSI divergences are great way to pick up market direction change. However, a directionally motivated market can burst right through the divergences too. They are not guaranteed to produce results. It appears RSI divergence may have been broken through by the market. We should be able to confirm in a couple of days. That actually means the market will go a lot higher before it turns around.
A "B" wave can be an ascending triangle. My poor man's impression of the 3-3-3 getting us to 290+. We could also gap up on Monday, paint the 290+ area and get it over with. I feel the market will not go down till we are certain of turn around in the epidemic. Then, it will take a breather. Buy the rumor, sell the news.
A "B" wave can be an ascending triangle. My poor man's impression of the 3-3-3 getting us to 290+. We could also gap up on Monday, paint the 290+ area and get it over with. I feel the market will not go down till we are certain of turn around in the epidemic. Then, it will take a breather. Buy the rumor, sell the news.
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.