Another signal for a bearish scenario would be to close the gap on CEM futures chart at $8500. It aligns nicely with 50% Fibonaci Retaracement level and filling the gap theory has proven to be a pretty accurate sign time and time again.
In favour of bullish turn of events, there is a hidden bullish divergence, as we have higher lowes in price and lower lows on daily RSI.
As a result, there has to be a confirmation, supported by volume, before it is clear which direction the upcoming breakout is going to take.
In favour of bullish turn of events, there is a hidden bullish divergence, as we have higher lowes in price and lower lows on daily RSI.
As a result, there has to be a confirmation, supported by volume, before it is clear which direction the upcoming breakout is going to take.