Momentum always fade before it reverses. No abrupt reversal in it.
U can see in the pic below, it always passess through a choppy zone, before trend reversal to give a clear momentum.
With a huge gap up and no follow through today, price is still not bearish
means no short now
More from Aneesh Philomina Antony
1.
Start fibo retracement from swing high, not the other way around. Simply 0 point should b where retracement started
2.
The base should b chosen as major swing low. Can't just pick a random point
Start fibo retracement from swing high, not the other way around. Simply 0 point should b where retracement started
2.
The base should b chosen as major swing low. Can't just pick a random point
Similar views (shared Yesterday) Aneesh Bhai\U0001f447https://t.co/UxJZFdWJxh
— Bharat Sahni (@NiveshakBharat) September 29, 2021
RSI is an oscillator which is set to fluctuate between 0 and 100. Adding an MA to it would give a perspective of its location, at the max. Its never support or resistance
Aneesh ji, Like in PA we have undercut and reclaim of some major MA some significance, does it have any significance in RSI?
— Prakhar (@StocksbyPrakhar) May 12, 2022