The daily chat shows a big rounding bottom formation coupled with rising bottom on the TRIX index, which is fast approaching the levels last seen in May 2015.
The RSI is near the overbought territory, we also see a head and shoulders pattern on the 4-hr RSI. So a pull back to 1.27-1.26 cannot be ruled out, however, dips are likely to be short lived.
The rounding bottom structure looks very bullish… watch out for a break above 1.30 over the next couple of weeks.
The RSI is near the overbought territory, we also see a head and shoulders pattern on the 4-hr RSI. So a pull back to 1.27-1.26 cannot be ruled out, however, dips are likely to be short lived.
The rounding bottom structure looks very bullish… watch out for a break above 1.30 over the next couple of weeks.
