Watermelon Wednesday, page-3

Thanks for opening Jako

Candles
Big red one on expanded range and large(ish) volume, occurring in an overbought position.

Yearly High Lo Index
Highs definitely took a hammering, showing the demand decreasing at these levels.

RSI
Broken through recent lows and looking like it wants to go down.



Conclusion

It's always possible that one day's price action means nothing and will usually require confirmation, it looks like we have some down time coming.

As @redbacka suggests, I too think it's more of a pullback scenario than a trend reversal.

Something gentle....to calm us for the potential storm, and perhaps the return of pied pipers.... @Trees




MFx