Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 51.
There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 51.
algorithmic trader - I have quantified sentiment necessary for trading elliott waves
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
algorithmic trader - I have quantified sentiment necessary for trading elliott waves
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.