Price double bottomed at heavy volume area ~1750 after May capitulation. Also seen are a smaller A&E pattern on H4 (targets hit) and a morning star reversal.
RSI bottomed at levels not seen since March 2020, and is now approaching 50 of which close above and continuation signals near term change in momentum.
Expecting heavy chop circa 2400-2600.
Bollinger band has also given possible reversal signal, with (1) close below lower band on expansion, (2) close above lower band on reversal and (3) wick/bounce off lower band on contraction.
RSI bottomed at levels not seen since March 2020, and is now approaching 50 of which close above and continuation signals near term change in momentum.
Expecting heavy chop circa 2400-2600.
Bollinger band has also given possible reversal signal, with (1) close below lower band on expansion, (2) close above lower band on reversal and (3) wick/bounce off lower band on contraction.
Measured price target: 4300