MFI is ready for a bounce off of apparent support.
This looks good as it corresponds to a higher price level than the previous bounce off of this ~21 MFI region...which I gather carries bullish indications.
What's more, this would be the highest price level ever held by that level of MFI.
I know the corresponding RSI figure looks far less bearish so lots more room for it (RSI) to move...perhaps the volume consideration in the MFI calc is responsible for this low level? Don't know if that would compound or conflict with what I'm reading here?
Taking on board the spectrum of opinion out ther, I'm looking for alternative possibilities to the obvious short...of which this looks like one.
This looks good as it corresponds to a higher price level than the previous bounce off of this ~21 MFI region...which I gather carries bullish indications.
What's more, this would be the highest price level ever held by that level of MFI.
I know the corresponding RSI figure looks far less bearish so lots more room for it (RSI) to move...perhaps the volume consideration in the MFI calc is responsible for this low level? Don't know if that would compound or conflict with what I'm reading here?
Taking on board the spectrum of opinion out ther, I'm looking for alternative possibilities to the obvious short...of which this looks like one.