As you can see from the chart, price is climbing but the RSI is declining. This could be a signal of an incoming trend reversal which I expect will draw a new local lower low.
If the declining resistance line can not be broken in this rally then chances ore increasing for the bearish divergence I mentioned above to play out.
If we see a breakout than this bearish divergence has no impact. Should enter a long position if we see a breakout.
Öz.
If the declining resistance line can not be broken in this rally then chances ore increasing for the bearish divergence I mentioned above to play out.
If we see a breakout than this bearish divergence has no impact. Should enter a long position if we see a breakout.
Öz.
Comment:
Bearish divergence is in play still. Price came down immediately after hit to the resistance. We will see if the ascending yellow line will be a good support or not ?