On the daily chart (left), we can see that the bullish divergence played out, pushing price above the downward channel.
On the monthly chart (right), we can see that there is significant hidden bullish divergence, as the price has gone up, the RSI has gone below 50, and is now back above 50.
If inflation has peaked (need to confirm inflation data for the next few months), and the DXY continues a move downward, we can expect more bullish momentum for the markets.
On the monthly chart (right), we can see that there is significant hidden bullish divergence, as the price has gone up, the RSI has gone below 50, and is now back above 50.
If inflation has peaked (need to confirm inflation data for the next few months), and the DXY continues a move downward, we can expect more bullish momentum for the markets.