Negative divergence on RSI for DJI Short

Dow Jones Industrial Average IndexTVC

Description

⋅ Sep 9, 2021 6:36 PM

According to the values on Aug 19 and Sep 9, there is a negative divergence on RSI. So, DJI may continue to drop to 34700.

Comments

EDIN-DANMARK

⋅ Sep 10, 2021 7:24 AM

i think first op to 35200/35300 and from here short

Laurent10

⋅ Sep 10, 2021 4:09 AM

Hi....but it has now broken below your support line, may I ask why only to 34700? Thanks

faikblack

⋅ Sep 10, 2021 3:28 PM

@Laurent10, hello. I do not know if you ask EDIN or me but, as you can see from the graph that I share 34700 is the lowest point that we see on Aug 19, and now DJI reaches that point. Of course, we may determine other support lines higher than 34700 but until 34700 the RSI divergence should continue to be valid. This is the main reason for mentioning 34700 in my main idea. DJI may check lower points too, but we need to look at the graphic with lower time intervals. At that point, this idea share window completes its task.
Regards,
Fatih