KLR Bearish Divergence...Watch for break in support

17 Mar 2021

In late January KLR broke resistance and established a new support trendline. As you can see from the chart, KLR broke previous resistance in mid-January, at which time RSI crossed into overbought territory. Following this initial overbought indication we can clearly see a bearish divergence as price found higher highs numerous times while at the same time RSI found lower highs.