The Relative Strength Index (RSI) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially the RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements.
Uptrend still intact. We have an on-going Higher High after Hidden Bullish Divergence.
RSI Delta
RSI Delta Map
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We have multiple rejections on the 0.50% fibb which also is a major resistance. We can see a cross in the MACD and also matching RSI & MACD movement. We expect movement to the downside.
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Today’s chart update will be on WEED – Canopy Growth Corporation – is the local top in and are we in an ABC correction? We are more probable to be in for an oversold bounce due to the over extension of indicators.
Points to consider
- Bear trend established on 240 time frame
- Local resistance at $38 region
- Local support at $25.50...
It seems like the entire cryptocurrency market has went through a healthy correction. It seems like Bitcoin has very strong support and has not broken $9,000 yet. If 2017 repeats, that means the entire market will flourish WITH Bitcoin. Some believe that once Bitcoin takes off, altcoins will fall. But, looking at the 2017 bullrun, you can see that was not true. At...
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Today’s chart update will be on BTC’s short term projection on the hourly time frame. We have a potential rising wedge that needs to be confirmed with a third touch on the lower trend line. A break from this formation is bearish, if it plays out; we are more probable to test lower support, where the triple bottom was established.
Points to...
This is a strategy that is based around using the general value of the RSI to determine the trend and then using the Stoch RSI to pick and entry point.
It also uses the RSI to determine a profit taking point or exit point from the trade.
This version doesn't have a stop loss other than the signal to trade the opposing direction. Therefore it is more effective in...
Before XRP has seen wild bullish runs with overbought RSI into the 100 level..
But we haven't seen XRP dip really low into the oversold RSI into the 0 level..
Instead it has been Flat lining the whole time, around the 40 and 50 RSI level..
Before ANY Jump can be made out of this, we first need to see a BIG Dip before the Bounce can even happen..
If at all.....
Endo International Plc operates as a pharmaceutical company. It focuses on developing, manufacturing, and distributing of branded and generic pharmaceutical products. The firm operates through the following segments: U.S. Branded-Specialty & Established Pharmaceuticals, U.S. Branded-Sterile Injectables, U.S. Generic Pharmaceuticals and International...
* 50% for all predicting.
- Daily: Expect to reject at Demand zone. Continuation candle pattern at Daily.
Note: The EMA 13 crossing down EMA200, maybe a big downtrend with MACD-H at Daily.
- H4: Head and Shoulder is supported by FORCE INDEX & RSI for uptrend.
Conclusion for today’s Zcash Analysis: Bullish momentum in Zcash is expected to continue with the bottom of resistance (44.52) as the minimum target.
A log scale on the 6 Hour timeframe is used in today’s Zcash analysis. Inspection of intraday price action focuses primarily on data from June 2019 to current date.
The dominant chart pattern during the period...
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