Are We Going Up Or Down?
We're currently in a no trade zone for me. Still unweary whether we're going up or down. Price is closing in on the bottom of the RSI which could mean a reversal. However if we break the RSI support then the price will also break the channel and that would make my two correction targets valid.
SUMMARY:
- As expected, price dropped to the bottom of
the channel.
- Still bearish divergence when the price is moving
up in a channel and RSI is moving down.
- If we break the RSI channel, then we're probably
heading down to one of the yellow target areas
Mid Term View: BULLISH
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.