Hidden bullish RSI divergence on the weekly PLTR chart forming as investors react strongly to recent company criticisms and the upcoming Jackson Hole conference.
This feels more like knee-jerk panic selling than a genuine change in sentiment, but we'll have to see if this is true.
If the previous PA is anything to go by, we may see prices quickly reverse. There, we can see price gapped up significantly before retracing again, leaving a hidden bullish RSI divergence on the weekly that led to a sharp reversal (minus the April Trump tariff shakedown)
I'll be interested to see how this one plays out. A dovish Fed this week would also certainly help the situation, and this next move may hinge almost entirely on that outcome.
This feels more like knee-jerk panic selling than a genuine change in sentiment, but we'll have to see if this is true.
If the previous PA is anything to go by, we may see prices quickly reverse. There, we can see price gapped up significantly before retracing again, leaving a hidden bullish RSI divergence on the weekly that led to a sharp reversal (minus the April Trump tariff shakedown)
I'll be interested to see how this one plays out. A dovish Fed this week would also certainly help the situation, and this next move may hinge almost entirely on that outcome.
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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.