My beloved monthly timeframe!
RSI bullish divergence as depicted by the disagreement between the price plot and the RSI plot.
Also noteworthy is the fact that this trading pattern was formed against a long term value-support area.
Note though that trends are powerful, they require a lot of capital to die ... and this market is still officially in a downtrend. At least until the price cuts and closes above that downward sloping trendline ... and it will still have a 50 EMA above.
Cheers
RSI bullish divergence as depicted by the disagreement between the price plot and the RSI plot.
Also noteworthy is the fact that this trading pattern was formed against a long term value-support area.
Note though that trends are powerful, they require a lot of capital to die ... and this market is still officially in a downtrend. At least until the price cuts and closes above that downward sloping trendline ... and it will still have a 50 EMA above.
Cheers