The 4hr uptrend is our guide on CMPS as it sets a series of higher lows riding EMAs as support. Eventually we will lose the 4hr uptrend, signalling that daily consolidation is underway. Having bounced 70% from the fear dump low, we are anticipating a daily higher low above 2.25 and the size of that pullback will let us know the likelihood of continuation vs a need to chop around in equilibrium while the market finds a new balance.
4hr RSI just touched 70 today for the first time since the dump.
4hr RSI just touched 70 today for the first time since the dump.
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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.