It all depends on what time frame one is looking at & don't just look at one indicator in isolation. The MACD is probably the slowest indicator around but that works both ways. Once started its hard to stop. I think the Histogram is more important in the early stages of a reversal as that leads the MACD. The Stochastics lead the MACD & Vol is virtually live & leads them all.
The moves play out differently on each time frame but in the end they all usually lead to the same result. It depends on if one was a trader or investor I guess as to which one is more relevant to the individual.
If looking at the monthly then yes we could move sideways for a month or two more yet.
If however one was weekly trading then that chart is only just now showing any positive outlook
The daily is looking more promising & could be just about ready to run.
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