Whether it is a bullish pennant or an ascending triangle that's forming, the coming week is going to be an exciting one. There's a rising wedge that's currently forming in the bigger pennant and 4H/1D stochastic RSI is oversold. That means there are more downsides than upsides. We will have to wait patiently for the daily Stochastic RSI to fall below 20 (reset) before we can be sure that an uptrend is coming.
Note
If we don't bounce at 0.236 or 0.318, we are going down more.
Note
Fortunately we broke out of the ascending triangle upwards. Now we are testing the 11,400 again. RSI signals are showing promising signs that we MIGHT just break through in the coming days. Anything can happen in between.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.