Strong divergences are building again, as we saw previously at the top. The RSI is continuing to follow a trend of higher lows. This is the exact opposite of the month long consolidation we had previously, where the RSI and MACD would converge downwards with the price until pumping quickly to reset the oscillators. We are not seeing many bearish signals in the indicators. Price should increase sharply soon. I have the price chart inverted for the purpose of helping you see through any emotions that may be leading you to believe that the price action might be dead. Technically speaking, we are preparing for an uptrend. It however is not guaranteed at all, just like any move in the markets that can be irrational.
Comment:
Price seems to be breaking out. Let's see if it holds above or within the neutral rebase levels.