Continuation of downward pressure - Race in 1d & 2d

We are still experiencing downward pressure.
We are currently in a "Race" between the Energy in the 1d & the Red RSI in the 2d.
In order to see a possibility of a reversal of upward pressure, the Energy in the 1d needs to close above 50 before the Red RSI in the 2d crosses below 50.

Near Term TF Group.
In this TF group we can see that in the 1d & 2d the Green is higher than the Energy, if this remains the case we do have potential in these TF's to see a higher high.

For now we can monitor for reversal signs.
I have marked this as neutral.

Trade safe
aBL

Comment:

The Energy in the 90 minute just won the race against Red RSI in teh 3h. The Green MA is above the Energy in 90 minute & 3h indicating bullish sentiment. The Red RSI in the 3h has made contact with the Green MA as it rises if it closes this way it is bullish and indicates that the Energy will cross above 50 on next 3h candle. Red RSI has crossed above 50 in 6h. We would have liked to see the Green MA above the Energy in the 23 & 45 minute as it is in the 12 minute.
Looking promising but as yet no clear signal for reversal to sustained upward pressure.
Trade safe
aBL

Comment:

The Green MA is higher than the Energy in the short term group of timeframs apart from the 6h. We need to watch out for the Red RSI and the Blue LSMA in the 90. The Red RSI is very close to crossing below 50 and the Blue LSMA is at 57. They are also pointing down towards 50 in the 3h. If the Red RSI crosses below 50 we could see price action drop down between the Aqua/Orange BBs at around 33 sats currently...
...But if the Blue LSMA continues to turn down and crosses below 50 too, we could well see the BBs expand and the price action fall further while remaining between the Aqua/Orange lower BBs.

Im not saying this is going to happen but we need to keep an eye on the Red RSI & Blue LSMA.

Trade safe
aBL

Short Term

Comment:

As indicated in previous update above, we have now seen the Blue LSMA cross below 50 - see image below. As a result, we can also see as discussed that the Bollinger Bands have started to expand and the price action is moving into the Aqua/Orange lower BBs the price action can also wick down to the Red lower BB. The Blue LSMA seems to be trying to turn back up, if it doesnt succeed we can see price drop further with the expanding BBs

When the Red RSI crossed below level 50 in the 3h it triggerd a race between the Energy in the 3h & the Red RSI in the 6h.
For a possibility of a reverse to sustained upward pressure, we need to see the Energy in the 3h close above 50 before the Red RSI in the 6h closes below 50. If this happens we can look at lower TFs to seek confirmation. If in the three timeframes (90, 45 & 23) the Green MA is higher than the Energy and the Energy has one the race, we are likely to see a reversal to sustained upward pressure.
As yet, no clear signal and we continue to see downward pressure.

Comment:

Forgive me - I stated above that the Energy in the 3h has to CLOSE above 50 before the Red RSI in the 6h closes below 50. I meant to say: before the Red RSI CROSSES below 50

Comment:

The Red RSI has won the race in the 6h against the Energy in the 3h. indicating a continuation of downward pressure. We now concentrate on the race between the Energy in the 6h and the Red RSI in the 12h. We need to see the Energy in the 6h close above 50 before The Red RSI in the 12h crosses below 50 in order for there to be a possibility of reversing to upward pressure.

The Red RSI and the Blue LSMA have crossed below 50 in the 90m & 3h and we can see the BBs expanding, the Energy is higher than the Green too. Unless they turn up we can expect the price action to sit between the Aqua/Orange lower BBs as they expand.
The Red RSI has crossed below 50 in the 6h and the Blue LSMA is turning down and is currently at 51. If it crosses below 50 and continues down with the Red RSI we could see the BBs expand in this TF too and the price action to move for the most part between the Aqua/Orange lower BBs.

We are in the short term group of TFs and this can change. However currently we have no signal for reversal to sustained upward pressure.

Comment:

The Energy in the 6h won the race against the Red RSI in the 12h.
This means we have a chance for reversal to sustained upward pressure. In order to confirm, we need to see the Green MA higher than the Energy in the 3 preceeding timeframes (3h,90m & 45m). We have to consider that the Energy in the 3h is higher than the Green. However the Red RSI and the Blue LSMA in the 3h have turned up and are approaching 50 which is a good sign. Also the Green in the 90, 45 & 23 is higher than the Energy which is bullish. The Red RSI in the 12h has made contact with the Green as it rises and appears to be pushing up strongly, if it can close like this in 4 hours this is bullish and would indicate upward pressure in this timeframe.
We are seeing the first signs to support a reversal to upward pressure we will keep an eye on this to confirm but starting to look good.

Comment:

Verge looking bullish in near term group of timeframes.
Green is higher than Energy and above 50, Red RSI is above 50.

Comment:

Looking at the short term group of timeframes, we can see the possibility of a short dip before continuing up, particularly if the 6h closes while the Red RSI is making contact with the Green as it falls. But ther is still 4 hours left in this candle and the Green can easily turn up.