M Formation has formed on Glencore.
This was prior to an ongoing uptrend, until last year.
Last year it moved into a range bounded state which has formed this M Formation near the end of 2022.
Now we can expect a break down any day now below the neckline.
There are other bear signs, and the biggest is RSI.
21>7 - Bearish
Price>200 - TEST
RSI has been forming lower highs since before the M formation.
This is an extremely Bearish divergence where we can expect the price to follow.
RSI<50
Target R81.70
This was prior to an ongoing uptrend, until last year.
Last year it moved into a range bounded state which has formed this M Formation near the end of 2022.
Now we can expect a break down any day now below the neckline.
There are other bear signs, and the biggest is RSI.
21>7 - Bearish
Price>200 - TEST
RSI has been forming lower highs since before the M formation.
This is an extremely Bearish divergence where we can expect the price to follow.
RSI<50
Target R81.70
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.