Most people should understand the idea of bullish divergence (lower low price but higher low RSI), which predicted the bounce up tonight.
However, to prevent a fake out, always remember that bullish divergence carries more weight coming into an established area of resistance, which is present in this case.
The ralley upwards has only just started, so I'm publishing this early almost as a prediction of my TA so others can assess my judgement in real time!
Hopefully I'm right and this upwards ralley carries on further.
However, to prevent a fake out, always remember that bullish divergence carries more weight coming into an established area of resistance, which is present in this case.
The ralley upwards has only just started, so I'm publishing this early almost as a prediction of my TA so others can assess my judgement in real time!
Hopefully I'm right and this upwards ralley carries on further.