1) On weekly RSI is very close to break its resistance line and it is approximately 40 level. RSI's 2 moving averages have already cut each other and it gave buy sign to us.
2) As you saw i found chart pattern which is called Descending Triangle on Momentum Indicator. This chart pattern breaks its resistance line generally not always. In my opinion taking sign from moving average on Momentum is not so important because in the past, especially, in this down trend it gave us wrong buy sign because of this reason we have to check out with other indicators.
3) MACD has green bar and it is good sign for upper trend.
4) CCI has already cut its resistance line and i applied WMA(14 period) on it. CCI has cut above WMA and it is buy sign.
5) On DMI indicator ADX(Red one) cut above -DI(Orange one). That is buy sign.
6) On prices i applied 2 moving averages which have(20 period = green one),(5 period = red one). Red one cut above green one 2 weeks ago and that was buy sign. It is still valid.
2) As you saw i found chart pattern which is called Descending Triangle on Momentum Indicator. This chart pattern breaks its resistance line generally not always. In my opinion taking sign from moving average on Momentum is not so important because in the past, especially, in this down trend it gave us wrong buy sign because of this reason we have to check out with other indicators.
3) MACD has green bar and it is good sign for upper trend.
4) CCI has already cut its resistance line and i applied WMA(14 period) on it. CCI has cut above WMA and it is buy sign.
5) On DMI indicator ADX(Red one) cut above -DI(Orange one). That is buy sign.
6) On prices i applied 2 moving averages which have(20 period = green one),(5 period = red one). Red one cut above green one 2 weeks ago and that was buy sign. It is still valid.