TP = 71.88 hit as the 5H Channel Up broke to the upside (overbought on RSI * 76.982, STOCH = 81.153, STOCHRSI = 92.911, Williams = -11.676) and made a new yearly High = 73.06. 1D has now recovered all of the losses since June 18 in less than 8 trading sessions (+$9). This emphatically displays the power of dip buying when the trend is bullish, as was the case with the 1W Channel Up (RSI = 65.160, Highs/Lows = 3.1421, MACD = 2.890). 1D is on a very natural bullish condition (RSI = 66.897) to test 75.00 (which is a Higher High on the 1W Channel Up) after it retraces to 71.88 or 70.60. TP = 73.97.
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.