JSE:STXFIN Financial Index Signs of Weakness
There has been a change of character (CoC) with two of the largest delining pushes since the uptrend started. Price has broken the upward stride. Volume is higher during the downward pushes and delines on the rallies. Currently, the Volume RSI is oversold and the price has reached the bottom of the trading range. So we can expect a pause before the markdown begins in earnest. This does not just seem like a correction but potentially there is more downside to come.
Related publications
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.