I've started reading Constance Brown's book on TA and I'm finishing up the first chapter in his book. Taking into account his RSI rule, we've successfully found support at the lower range of the bullish zone.
Bear market rule
- RSI will oscillate within a support range of 20-30 and a resistance range of 55-65
Bull market ruel
- RSI will oscillate within a support range of 40-50 and a resistance range of 80-90
Is this the end of the bear market?
Bear market rule
- RSI will oscillate within a support range of 20-30 and a resistance range of 55-65
Bull market ruel
- RSI will oscillate within a support range of 40-50 and a resistance range of 80-90
Is this the end of the bear market?
Comment:
I believe we'll test the bearish resistance level once more and double bottom the bullish support line before we enter the bull market.