If you look at the stochastic on the hourly, we are pointing down from overbought area in the second from bottom pane here.
Further, there is a declining trendline on the RSI acting as a resistance.
I think we will get a pullback to mid 44's before we see which way the market decides to go.
The weekly is about overbought on the stoch, but whether or not we get a false bar there remains to be seen. Need to see it level off and start pointing down before making any assumptions.
Further, there is a declining trendline on the RSI acting as a resistance.
I think we will get a pullback to mid 44's before we see which way the market decides to go.
The weekly is about overbought on the stoch, but whether or not we get a false bar there remains to be seen. Need to see it level off and start pointing down before making any assumptions.
Note
Weekly Note
If you look at that giant green weekly weis wave, I wouldn't be surprised to see this red one continue to grow, effort vs result.Note
Note
Volume divergence weekly suggesting bulltrap city 
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Disclaimer
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.