From what I can see, every major correction/bear market/whatever you want to call it, respects a decreasing resistance line in the RSI. When this level is broken, the KST indicator then moves from below zero to above zero, indicating a positive trend. Each of the 4 times this happened would have been an excellent time to buy.
For this past year, the RSI is way more overbought than ever before, and the slope of the RSI trend line is the steepest its ever been. The bearish RSI divergence is massive but notice the break of the trend. This is showing how the bearish divergence, while still in place, is decreasing these past few months. If it continues to decrease, it will reverse.
For this past year, the RSI is way more overbought than ever before, and the slope of the RSI trend line is the steepest its ever been. The bearish RSI divergence is massive but notice the break of the trend. This is showing how the bearish divergence, while still in place, is decreasing these past few months. If it continues to decrease, it will reverse.
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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.