Seems like bulls can't break through this resistance level and has made multiple tops as a result. The bullish momentum from which this came from has been made too intensely and the bulls seem exhausted (or some may already be taking profits at this level) as shown by the decreasing volume.
Several reversal candle signals are visible such as the Bearish Engulfing, Tweezer Tops, and on lower time frames, Dark Cloud Cover.
RSI is showing divergence as well. We wait either for a breakout of the trendlines or breakout of the neckline before entering trades.
Several reversal candle signals are visible such as the Bearish Engulfing, Tweezer Tops, and on lower time frames, Dark Cloud Cover.
RSI is showing divergence as well. We wait either for a breakout of the trendlines or breakout of the neckline before entering trades.