OBV testing trend line. RSI moving into oversold levels and primed for reversal from the looks of StochRSI (Not shown).
Using the Fib fan beginning on where I believe the bull run began in 2015, PA appears to be testing .786 fib fan retracement level, while OBV, RSI and Stoch RSI all seemed to be primed for reversal.
Confirmations:
1. OBV bounce and maintaining above or along trend indicated
2. PA Bounce and maintaining above or along .768 fib fan level
3. RSI reversal and breakout of: A)34, B)41, C)53
Movement and finding support at +50 will indicate bull mode activated.
Elliott wave in PA is not calculated but meant to reflect possible PA movement.
**Break below OBV trend, and RSI drop below 28 and PA could move into intersecting area of .618 and the pink 2500 support area.
Using the Fib fan beginning on where I believe the bull run began in 2015, PA appears to be testing .786 fib fan retracement level, while OBV, RSI and Stoch RSI all seemed to be primed for reversal.
Confirmations:
1. OBV bounce and maintaining above or along trend indicated
2. PA Bounce and maintaining above or along .768 fib fan level
3. RSI reversal and breakout of: A)34, B)41, C)53
Movement and finding support at +50 will indicate bull mode activated.
Elliott wave in PA is not calculated but meant to reflect possible PA movement.
**Break below OBV trend, and RSI drop below 28 and PA could move into intersecting area of .618 and the pink 2500 support area.