Negative Divergence in Nifty Daily on 13th Sept High

2022년 9월 17일

Nifty Daily creates a negative divergence on 13th Sept, where price attains a HH without RSI follows it (see the brown circles in price/RSI).

Per common wisdom, negative divergence needs to correct below the previous swing low (29th Aug @ ~17200) to correct the divergence.

Now how far?


Well the next Fib support is at golden ratio ~17000.

Just empirical - whatever eyes see in chart.