Chris,
Note how price reached the same point but MACD and RSI formed a significantly lower high. This is called a bearish divergence.
The chart actually looks like a Double Top - a bearish topping pattern. We could see this "fill the gap" at that arrow.
Note how price reached the same point but MACD and RSI formed a significantly lower high. This is called a bearish divergence.
The chart actually looks like a Double Top - a bearish topping pattern. We could see this "fill the gap" at that arrow.
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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.