SPX500: Further Upside Expected - RSI Shows Strong Bull Momentum
Hi Traders,
I was initially expecting price to form an ending diagonal, thereby slowing down the bull trend for downside. However the ending diagonal is now invalid because price has slightly broken out of the structure in the past week. What's more is that we have no divergence on the RSI, and this indicates further upside.
Therefore, we can keep buying the pullbacks until price shows signs of slowing down.
Regards,
Wave Theorist
I was initially expecting price to form an ending diagonal, thereby slowing down the bull trend for downside. However the ending diagonal is now invalid because price has slightly broken out of the structure in the past week. What's more is that we have no divergence on the RSI, and this indicates further upside.
Therefore, we can keep buying the pullbacks until price shows signs of slowing down.
Regards,
Wave Theorist