This TA is not going to tell you where it’s gonna go next but what it does tell you is the recovery we’ve been having has been weakening over the past several weeks.
We are low volume, low momentum (ADX below 20) and MACD crossover on the daily chart compounded by the SQUEEZE on the Bollinger.
I can’t tell you which way the market will go next, that’s not what TA is good for, but what it can say is this recovery is on weak legs. To sustain the next leg up we are going to need a big catalyst. Conversely, if unexpected bad news come, we are going back down.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.