We have Bullish divergence in the RSI (orange lines).
Stoch RSI 15 minute is oversold and starting to come up.
The volume on our low of the drop was pretty significant and as I mentioned when it was happening, would probably put in the bottom of this down leg.
It looks like we want bust out of here, looking like mostly up from here until we find the high of this consolidation pattern. The 200 MA is still up there acting as our immediate resistance.
We can also still come down for a final accumulation staying above 8100 for equilibrium and go.
Stoch RSI 15 minute is oversold and starting to come up.
The volume on our low of the drop was pretty significant and as I mentioned when it was happening, would probably put in the bottom of this down leg.
It looks like we want bust out of here, looking like mostly up from here until we find the high of this consolidation pattern. The 200 MA is still up there acting as our immediate resistance.
We can also still come down for a final accumulation staying above 8100 for equilibrium and go.
Comment:
Bottoming action is setting in on this recent drop. 5, 10, 15 m Stoch RSI's are locked and loaded. Good bottoming volume
My 15 min Stoch RSI is half way up right now.