TITAN has been respecting the neckline for a few months. Curretnly testing it again also falls on 618 FIB. Awaiting a breakout/reversal on account of results on friday.
Today's closing is at same level of 13th June closing price, but RSI indicator is showing different move. Somewhere price is not agreeing with RSI up move. Is it sign of bearish divergence??
Einstein15
⋅
@preejay, Nice observation. But its better to take the two consecutive swings for convergence/ divergence instead of comparing at the same price level. Even better if the divergence is in the oversold/overbought region instead of the mid range. Google more!
Thanks
preejay
⋅
@Einstein15, Yes if divergence is in the oversold/overbought region it works more better. But two another things support for fall are there is Pivot resistance of 25th May and yesterday's candle is showing bit selling pressure. If it close today above yesterdays high then up move can be seen.