What we got here is a failure to bull run. If we look at the day chart, we see that a lower high (blue) has formed in the chart and a higher high (blue also) in the Stoch has formed. This is hidden divergence and it tells us that the pattern will be bearish soon. Also if we look closely enough, we see a symmetrical triangle also has formed (brown). The triangle is in a confused state and does not know whether it will become a bear or a bull. In this case, if we look at the divergence, we clearly see that it is trending down.
In the weekly chart, the bearish trend continues and affirms the day chart. In the 4 hour chart, we see that the trend is slightly over the middle bb line and it does not seem to have much momentum going on. Also, the bb is starting to trend bearish.
There you have it in a nut shell. The bears continue the correction.
In the weekly chart, the bearish trend continues and affirms the day chart. In the 4 hour chart, we see that the trend is slightly over the middle bb line and it does not seem to have much momentum going on. Also, the bb is starting to trend bearish.
There you have it in a nut shell. The bears continue the correction.