#SNDL - 4H chart showin RSI divergence & much more
The H4 timeframe is suggesting interesting points which make still think that we are close to a rebound; as I recently shared, the 0.7$ area is extremely important has it is where three important trendlines are crossing (this is not visible frm this chart).
Summarizing my points:
1- RSI showing divergence with price action, and it is rebounding for the third time in oversold territory
2- Falling wedge broken on April 19th with volumes
3- Today closing H4 candle is a piercing line candle, which opened below the lower of the previous candle, and closed approximately at half of the body of the same previous handle.
Not visible from this chart, if yu have a look at the monthly candles, you'll see that the last three bearish candles have lower volumes, and this is a strong sign to me, that we are just few days/weeks away from recoverying an uptrend with higher volumes.
Summarizing my points:
1- RSI showing divergence with price action, and it is rebounding for the third time in oversold territory
2- Falling wedge broken on April 19th with volumes
3- Today closing H4 candle is a piercing line candle, which opened below the lower of the previous candle, and closed approximately at half of the body of the same previous handle.
Not visible from this chart, if yu have a look at the monthly candles, you'll see that the last three bearish candles have lower volumes, and this is a strong sign to me, that we are just few days/weeks away from recoverying an uptrend with higher volumes.
