Athanasius2

Athanasius2

A daily close above 44,700 could signal a big bullish move, though it could go back down to 40,000 first. Also, for the first time since December, the 20EMA is above the 50EMA, which is a bullish signal.

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Watch for trend reversal in the weekly charts as it could signal a sharp drop in price.

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This past year we have seen higher highs and higher lows in price action paired with lower highs and lower lows in the RSI 14. Watch for a trend reversal on the weekly in the coming months, as it could signal a sharp drop in price.

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While the past week has been an underwhelming reprieve from the major downswings we've been seeing, I'd need much stronger upward moves to convince me this downtrend is over.