The question is, can it break the 180 and move on to 200? That's the question; the reset has begun even though it went to 155, which was the center line on the BB, but the stochastic is still at 60. Even though it declined, it is persistently holding this spot but is inconsistent in how far down it goes. With RSI at the high 50s, a trendline was also formulated; the bulls have every right to fight the bullish zone; although I Believe it can take it to mid-180, I also see it back in the 140s as the full reset hasn't occurred, so the sentiment of the market has been bullish incredibly tech reaching an all-time high of 500 seems to be driving the markets insanely crazy. Still, we have to follow basic 101 as well and see some relief in the mark. As the single moving average for 100 days gets closer, it could meet from a jump and retrace bouncing off the SMA and BB support levels. We shall wait & see.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.