IS IT THE END FOR THE DOW??Sup Traders
I believe we could see a big drop incoming for the dow, which could mean gold, bitcoin and so on could rise higher??
Let me know what you think!
As always, keep your risk managed!
Cheers :D
Us3
Dow30 – Low volumes, possible RSI divergenceWith index at record highs, it is safe to either stay on the sidelines or search for signs of a pull back.
Moreover, with stocks at record highs along with recent improvement in fundamentals, the question changes from ‘when will Fed raise rates” to “Why isn’t Fed raising rates”.
The index is showing signs of weakness on 4-hr chart
A bearish price-RSI divergence has been confirmed, RSI has breached rising trend line as well, the index now needs to breach support at 18,480 as that would add credence to bearish divergence.
A weak closing would also confirm bearish price RSI divergence on daily chart.
Look at price and volume – The entire rally from Feb lows have been accompanied by falling volumes. People have just lacked trust in the rally and hence a correction appears likely.
A corrective move could take the index down to 18,300-18,250. On the other hand, a move above 18,636 would negate the bearish divergence.
