The daily close is not important now. We don't need a daily maximum close. The important thing that price has broken the cycle down ( blue) and with this move it confirmed the DCL.
With all this we are on day 8 in a new daily cycle. We have around 5-6 weeks to run.
The worked quite well. can get overbought and can stay at overbought levels for weeks. crossover below the 0 level also a good sign that a rally is starting.
We also break above the green . That was the first daily cycle's . The testback of the green was the last hope of the bears. As we break above both the blue and green at 46.29$ it will act as strong resistance now. I think we are going to attack 49$ and 51.69$ very soon.
We are at the green trendline now. If we break below it the blue trendline must hold.