In my Week-end post I had mentioned"
Q
A look at the Hourly charts tells me that though positive divergence has appeared on RSI-14, it has yet to make an appearance on MACD 5,34,5.
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Q
A look at the Hourly charts tells me that though positive divergence has appeared on RSI-14, it has yet to make an appearance on MACD 5,34,5.
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UnQ
Today's fresh low led to emergence of positive divergence on MACD 5,34,5 as well:
This positive divergence assumes significance because the Daily charts are in oversold territory and and should be taken as only an indication of slowing momentum (downwards in current scenario) and should not be taken as a sure sign of immediate bounce.
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On 5 min charts, a closer look can be have:
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