RSI divergence + Channel Resistance
It seems the bear trend has already started. The last time price touched the resistance of the channel it took about 18 months to reach the support of the channel. Price has tested the resistance of the channel with huge RSI divergence. Could we be expecting the same sell off scenario to the support of the channel? I think the probability of that happening is higher than not happening based on the wave formation on the SPX (check my analysis on SPX below: I expect it to correct by about 25%).
Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this are entirely yours and has nothing to do with me.
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Disclaimer: This is not a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this are entirely yours and has nothing to do with me.
If you like my charts, please like, follow and comment. Constructive criticisms are also welcomed.
Disclaimer
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