USDTRY Will the long term Weekly RSI hold support?
Long term Weekly RSI trend line has held its support since September 2010 crash. Now it is back again touching the "do or die " trend line.
If history is about to repeat itself, RSI should start to rise from here.
If it breaks down the 10 years trend line, then we should expect very low prices in coming months/years. I always keep in mind the possible results of a "broken parabola".
If history is about to repeat itself, RSI should start to rise from here.
If it breaks down the 10 years trend line, then we should expect very low prices in coming months/years. I always keep in mind the possible results of a "broken parabola".
Trade active:
200 DMA resistance has been smashed through. 50 WMA is next resistance zone to pay attention to. Expect sideways choppy price action for couple of weeks before piercing 50 WMA up.
The long term MA s are still trending up. My view on price would turn negative only if the long term MA s turn flat/ down while price keeps staying under them. No trade zone for day traders
The long term MA s are still trending up. My view on price would turn negative only if the long term MA s turn flat/ down while price keeps staying under them. No trade zone for day traders