Weekly charts are much reliable. But study of weekly is to be done in relation to daily charts. Signals generated in weekly charts may be taken seriously.
Negative Divergence formed and triggered, so price corrected sharply during the strong uptrend.
Now price is stabilizing. Resumption of the main trend which is up may still take some more time. Bears are feeing fatigue. We keep close watch at Tweezer Bottoms (reversal) 1280 and we shall take a stand when price again comes close to this level.
Negative Divergence formed and triggered, so price corrected sharply during the strong uptrend.
Now price is stabilizing. Resumption of the main trend which is up may still take some more time. Bears are feeing fatigue. We keep close watch at Tweezer Bottoms (reversal) 1280 and we shall take a stand when price again comes close to this level.