We had hidden bearish divergence showing on the 5th of march (Yellow dotted line) after which price went down. We have the same sort of hidden bearish divergence now (second yellow dotted line). This signals underlying weakness, and points this current upwards move to be nothing more than a retracement of the downtrend.
We also have somewhat of a rising wedge, although it's not ideal, but notice how price cannot even find the strength to move away from the bottom wedge line, signalling further weakness.
I'm not sure but I'm seeing a lot of weakness signals. I expect we will go back atleast to about 7500.
Just for info. Not financial advice.
We also have somewhat of a rising wedge, although it's not ideal, but notice how price cannot even find the strength to move away from the bottom wedge line, signalling further weakness.
I'm not sure but I'm seeing a lot of weakness signals. I expect we will go back atleast to about 7500.
Just for info. Not financial advice.