I hope so mate, but divergence is not a surety, it just means the bear run is nearing the end, but not that it is at the end. All it will take is another big candle down and it will send the RSI down to 20 again and invalidate the divergence. Seen it happen before
UnknownUnicorn1520339
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@jimo79, Couldn't agree more. Pretty hard to go after indicators in these low volume times. But it's the first clear signal since last month that we might see a bottom. Let's wait and see :)
VVXX
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I saw that too...thanks for sharing. The RSI looks very similar to 3/9- 3/14- maybe we will go down more time to 7700-7800 and then begin a new rally?
UnknownUnicorn1520339
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@VVXX, now you're pointing it out, haven't noticed, thanks! Almost looks like a smaller fractal of that specific period. If that's valid, would mean that we could possibly see a pump to 8500 first before going down again. Maybe I'm a bit too bearish...