A conflux of Technical Indicators supporting a bullish bias:
Breaking above its 8-day simple moving average. A hint of potential internal strength developing. First such a signal in the last 16 days.
Trend change to bullish according to Parabolic SAR. First such a signal in the last 14 days.
Close being in RSI oversold territory. One can expect some correction - even if it is temporary.
Remains close to its lower two standard deviations as calculated over the last 250 days. Potential overextended price action to the downside - mean reversion capabilities might start playing a role. Downward curvature of the bands remains a concern.
Caution: The overall trend remains bearish and the long idea will be against the general trend direction. Adjust risk accordingly.
Time to exit: +/- 30 August 2019
Breaking above its 8-day simple moving average. A hint of potential internal strength developing. First such a signal in the last 16 days.
Trend change to bullish according to Parabolic SAR. First such a signal in the last 14 days.
Close being in RSI oversold territory. One can expect some correction - even if it is temporary.
Remains close to its lower two standard deviations as calculated over the last 250 days. Potential overextended price action to the downside - mean reversion capabilities might start playing a role. Downward curvature of the bands remains a concern.
Caution: The overall trend remains bearish and the long idea will be against the general trend direction. Adjust risk accordingly.
Time to exit: +/- 30 August 2019
Trade closed: stop reached