has to make a decision very soon, either it keeps going downhill with the green trendline
, or it hitches a ride with the 200MA and starts moving up. If it goes down with the trendline
it will be going into a slippery slope. One thing you have to learn is that everything has a meaning, and when two lines converge it may stimulate price, so be ready for it. When a support line converges with a resistance line and price hits that juncture there's a 50/50 chance of it going up or down. When two support lines meet you have a 75% chance of going up, the opposite is true for 2 resistance lines. Right now we have a support and a resistance line converging.
As far as the Death Cross goes, it is in full effect and it will take a few days for it to turn it into a golden cross -- if we follow the current trajectory. What we are seeing at this point is not exactly out of the norm and what typically follows is a big drop
. We can't say that this is going to happen but we can say what typically happens in such a scenario.
THE TREND: Going Down