There are signs of a weak bearish divergence in HIMATSEIDE.
The prices are making higher highs but in the last 2 peaks RSI has formed almost the same highs.
The down side may not be much but I have put in 3 support levels.
S1 - 177.45
S2 - 167.7
S3 - 159.8
NOTE:
1. I have marked a similar divergence that has happened in the recent past for your reference.
2. I checked the RSI at a lower timeframe (4h) and the divergence seem to go away but I am sticking to the daily tf for my analysis
The prices are making higher highs but in the last 2 peaks RSI has formed almost the same highs.
The down side may not be much but I have put in 3 support levels.
S1 - 177.45
S2 - 167.7
S3 - 159.8
NOTE:
1. I have marked a similar divergence that has happened in the recent past for your reference.
2. I checked the RSI at a lower timeframe (4h) and the divergence seem to go away but I am sticking to the daily tf for my analysis