XLK RSI & OBV Bearish Divergence
Updated
- RSI shows bearish divergence on the price peaks
- OBV show bearish divergence; in this last leg up the OBV has been declining.
- Price was starting to form a bearish wedge but fell out quickly, bounced from 100 SMA.
Using Fib extension of 1.618 of an "ABC" pattern to project target, forming a double bottom from the most recent major correction. Duration of C leg is not to scale.
Trade active
Short entered at 81.88Trade closed: stop reached
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