I'm feeling dramatic tonight... Double top and we are at weekly RSI resistance... target 337... that would take it just about to the top, right before the covid crash…
Little known fact - in the dot com bubble recession, 55 RSI was resistance for the entire recession on the weekly chart…. We are currently at 55 and that has been the resistance since last January ('22)
And in both recessions, the dot com and the 08, the bottom was in under 30 RSI on the monthly…. (Currently at 52) (Actually - correction... the recession/bear market was over when we crossed UP RSI 30 on the monthly timeframe)
Completely not a practical post going into tomorrow, but just some large scale observations….
I’ll zoom in a little closer for the next one, I promise…. 1 or 4 hour chart maybe… lol…
Have fun trading tomorrow, y’all….
Little known fact - in the dot com bubble recession, 55 RSI was resistance for the entire recession on the weekly chart…. We are currently at 55 and that has been the resistance since last January ('22)
And in both recessions, the dot com and the 08, the bottom was in under 30 RSI on the monthly…. (Currently at 52) (Actually - correction... the recession/bear market was over when we crossed UP RSI 30 on the monthly timeframe)
Completely not a practical post going into tomorrow, but just some large scale observations….
I’ll zoom in a little closer for the next one, I promise…. 1 or 4 hour chart maybe… lol…
Have fun trading tomorrow, y’all….
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.
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.