Dear Friends in Trading,
How I see it,
This rising channel represents severe overbought greed territory.
A very big correction might be around the corner or in the near future.
Daily and Weekly RSI Divergence could be forced to re-balance at any time.
Keynote:
This is not a contradiction of my previous NASDAQ post.
Short-Term strong bullish price action can still prevail.
But please keep this big picture in mind from here on end.
Feel free to ask questions if anything is unclear.
I sincerely hope my point of view offers a valued insight.
Thank you for taking the time to study my analysis.
How I see it,
This rising channel represents severe overbought greed territory.
A very big correction might be around the corner or in the near future.
Daily and Weekly RSI Divergence could be forced to re-balance at any time.
Keynote:
This is not a contradiction of my previous NASDAQ post.
Short-Term strong bullish price action can still prevail.
But please keep this big picture in mind from here on end.
Feel free to ask questions if anything is unclear.
I sincerely hope my point of view offers a valued insight.
Thank you for taking the time to study my analysis.
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