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olly48
Feb 8, 2021 3:59 PM

Cannabis Index - Overbought, Looking for Retrace Before Entering 

CANNABISFXCM

Description

I have just closed a very profitable long on the cannabis index. This can only go up in the long run but I had to secure the profits. I am looking for this to retrace to between 0.5 and 0.618 Fibonacci before entering long again. It is very overbought on RSI across all timeframes so a correction needs to happen soon. Long term this will break all time highs (these do not show on this chart).
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