The accumulation is taking longer than what I first expected but, it is still forming a Wyckoff accumulation.
Instead of a schematic 2 formation it is now into a schematic 1 formation.
I see two scenarios: Spring could still be forming so first some more down before reversing, but as RSI was already oversold we possibly already have our spring and could be reversing shortly.
Instead of a schematic 2 formation it is now into a schematic 1 formation.
I see two scenarios: Spring could still be forming so first some more down before reversing, but as RSI was already oversold we possibly already have our spring and could be reversing shortly.
Note
Give us that spring...
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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.