From the current structure, Adobe (ADBE) is sitting on a strong weekly support zone that has held multiple times in the past.
At the same time, the RSI is showing bullish divergence — while price action has been making lower lows, RSI has been printing higher lows. This is often a positive signal suggesting sellers are losing momentum and buyers may step in.
📈 Conclusion: My bias is that Adobe has a good probability of reversing upward from this support level, backed by both the strong demand zone and the RSI divergence. Still, markets are unpredictable, and this remains only my view.
At the same time, the RSI is showing bullish divergence — while price action has been making lower lows, RSI has been printing higher lows. This is often a positive signal suggesting sellers are losing momentum and buyers may step in.
📈 Conclusion: My bias is that Adobe has a good probability of reversing upward from this support level, backed by both the strong demand zone and the RSI divergence. Still, markets are unpredictable, and this remains only my view.
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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.
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.