NEAR TERM (daily chart)
Interesting, as the price action moved back to touch the Parabolic-SAR, which should now switch to bearish. The Slow Stochastic is now coming down nicely as you can see with the lines moving down and apart. This signals more downside in the near term. One thing to watch for is a possible double top reversal pattern and that has implications for greater downside but this pattern has nowhere near formed yet. If we get a move down now, as the signals indicate, we could be developing this topping pattern further.
See the glossary link above for an explanation of the studies used above.
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