XLC – weekly vs. monthly
Weekly – after falling over 45% it appears to be forming a base; last week’s close was above previous weekly close from end of Nov 2022. While momentum indicators (MACD/RSI) are still negative but improving. RSI closed a fraction above 50 but MACD remains below the zero line.
Monthly – line chart shows potential for a double bottom; RSI higher high and MACD maybe ending its correction process.
Worth watching but looks encouraging!
Weekly – after falling over 45% it appears to be forming a base; last week’s close was above previous weekly close from end of Nov 2022. While momentum indicators (MACD/RSI) are still negative but improving. RSI closed a fraction above 50 but MACD remains below the zero line.
Monthly – line chart shows potential for a double bottom; RSI higher high and MACD maybe ending its correction process.
Worth watching but looks encouraging!
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