MCOUSD Bullish Daily RSI Divergence
Shown in RSI, we have bullish divergence. Last time we saw similar oversold condition, matched with bullish divergence, we rallied from 1.50 to 8. Keep your eyes peeled for this possibility. If RSI hits new low, the divergence is over and we are bearish. We can also see continued downside action with even higher RSI lows. Although the price goes down in this scenario, the sell pressure will be running out of steam.
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