50 retrace of prior low to high. Positive RSI divergence. Close above 46,12 confirms double bottom for 48.75
Comments
nicolaskao
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Might be forming an ascending triangle now.
KLang
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Looks tricky here. Second time at this level....
nicolaskao
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Well, not an ascending triangle (freaking stockcharts.com). The RSI divergence is only getting stronger at this point, and now the price just crossed the lower part of the bollinger band, a reversal will have to happen soon, it looks more like a rectangular pattern now, a small bounce from 46 would confirm it.