If there's gonna be a reversal, it has to be NOW!
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This is a simple trend analysis. the long-term trendline has stayed intact so far and a double bottom may be in the cards. RSI is also at a very low point. While these imply an upcoming reversal, you should stay cautious in the next few hours until we can say for sure if a reversal is on the way. The breaking of the trendline will take us down to 57, 55 and in the worst-case scenario 53. Don't take any trades in the next few hours and let's see how this plays out.
Commentaire
Bulls have successfully defended the trendline. I'd expect a huge leg up soon.
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