I am just pondering whether todays candle ( yellow arrow ) might be the start of an extended ABC correction post wave 5 up, its engulfed the length of the previous green candle with above average volume, which is bearish and the 5 & 9ema is still under the 20sma.
a) AO indicator is not showing any green bar momentum, getting close to the baseline, will it go negative ?
b) MACD.......blue line is still below the red and showing no sign of reversing.
c) RSI 14 looks to be approaching 49 support, if that breaks to the downside, then looking at 33
If 76 support breaks to the downside , the next support is 64c ........bearish.
Subsequently, a break of 84 to the upside and that would be BULLISH.
Newbie beware.
IMO of course
No financial advice
LTR CHARTING THREAD 3.0...........TA ONLY PLEASE, page-436
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