12/12
current move up is not supported by volume.
We can see bearish divergence with OBV, showing that the volume is declining and price moves in another smaller channel within the big down trending channel since ATH
Possible short term outcome is break out of the small channel and move up to the boundaries of the bigger channel before fall down.
Hence analysis from 12/11 is still valid.
current move up is not supported by volume.
We can see bearish divergence with OBV, showing that the volume is declining and price moves in another smaller channel within the big down trending channel since ATH
Possible short term outcome is break out of the small channel and move up to the boundaries of the bigger channel before fall down.
Hence analysis from 12/11 is still valid.
Note
12/13 analysis still valid. Price didn't have enough strength to go to the top of the channel and reversed earlier. Move down continues.
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Related publications
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.