As per our long term technical analysis note on 04-February 2020 it appears that the long term bear trend has begun. It should be noted that the MNP’s Relative Strength Index has now shifted into a weakening trend, and is trending lower with a 40 print, the lowest level since 2009. I don’t believe this means it is oversold, rather that it is a long term weakening trend.

In the short term, the rounding top pattern we highlighted last week has broken down as in a mirror image of the period seen from May to August 2019.

For traders looking at a short term rebound opportunity, the 250-245 level potentially offers a short term support zone .


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out