As I stated yesterday, I'm a strict amateur. But I wanted to update my post from yesterday with some new information that has come to light.
We have a showdown coming. Per my chart, we've got a YTD Rising Price Channel. So far for the month of Feb, we have a new price channel forming with new ATH and new higher lows. The StochRSI is showing as a good buy, but the RSI is starting to show it's over bought on the 4 Hour Candles. The new rising channel is going to be meeting the YTD Rising channel and we're going to get a squeeze again. Where the Bears and the Bulls are going to fight over the direction of the market. What happens next? I don't know. I lack the knowledge to hazard a guess. I'm just sharing my observations.
Thanks for reading!
We have a showdown coming. Per my chart, we've got a YTD Rising Price Channel. So far for the month of Feb, we have a new price channel forming with new ATH and new higher lows. The StochRSI is showing as a good buy, but the RSI is starting to show it's over bought on the 4 Hour Candles. The new rising channel is going to be meeting the YTD Rising channel and we're going to get a squeeze again. Where the Bears and the Bulls are going to fight over the direction of the market. What happens next? I don't know. I lack the knowledge to hazard a guess. I'm just sharing my observations.
Thanks for reading!