I've seen a lot of folk focus on the trend-line running from the high point of this chart down through the sequence and yesterday's notable break above it - all of which is true. However look at the RSI trend through the same points - this has not broken out and is still capped.
There is then a more recent trend line where the current price is effectively at the top &a hitting this longer RSI divergence.
I don't like it when things don't line up and it looks a bit fake. My guess is that we are going to see a sharp move downwards to bring it all back in line.
There is then a more recent trend line where the current price is effectively at the top &a hitting this longer RSI divergence.
I don't like it when things don't line up and it looks a bit fake. My guess is that we are going to see a sharp move downwards to bring it all back in line.