The observation is simple. The daily RSI and Money Flow indicator are showing signs of bearish continuation divergence. This signifies that bulls are loosing momentum and a bear takeover may be just around the corner.
Every time the RSI and MFI reached the upper levels we saw a dip. The first time we saw a 25% dip the second time was this November and we saw a 65% dip. I was hoping for a more robust bounce (at least to the upper trend line of the falling wedge but it seems like we could be looking at retesting the $20's sooner rather than later.
Every time the RSI and MFI reached the upper levels we saw a dip. The first time we saw a 25% dip the second time was this November and we saw a 65% dip. I was hoping for a more robust bounce (at least to the upper trend line of the falling wedge but it seems like we could be looking at retesting the $20's sooner rather than later.