"This content is not financial advice or a buy/sell signal." On the weekly and monthly charts, an IRS divergence has been formed that can result in further reduction in price till breaking the divergence. Plus formation of the head and shoulder pattern (on the daily chart) can lead to lower price targets. The RSI indicator shows that we have already entered the bear market but it may not necesseraly be a long-term bear market.
Comment:
Very close to correcting the RSI divergence and very close to catching the historical monthly RSI bottom.
Comment:
RSI divergence has already been corrected but still has not caught its historical monthly bottom.
