Despite the bullish price RSI divergence on Tuesday the subsequent failure to take out the 5-DMA suggests the sideways action is likely to continue for some time before buyers make their presence felt.
Fresh selling is likely to see only if prices see a daily close below Monday’s low of $1211.41.
Overall, the sideways action is likely to continue ahead of tomorrow’s US CPI release.
Fresh selling is likely to see only if prices see a daily close below Monday’s low of $1211.41.
Overall, the sideways action is likely to continue ahead of tomorrow’s US CPI release.
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Related publications
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.