12M DOW: RSI trending down and crossing MA likely in 2023
As above.
RSI in "oversold zone" and trending down and headed even closer to crossing MA on the 12M chart, which likely will occur in 2023 if it continues.
Historically, this is a continuation of the bearish trend with even lower lows ....no surprise though eh? Captain obvious!
Obviously, the reverse is true as well from the chart that the 12M RSI trending up through MA indicates market reversal and case for a multiyear bull market. Right now we look FAR from this bullish type scenario.
Will follow.
RSI in "oversold zone" and trending down and headed even closer to crossing MA on the 12M chart, which likely will occur in 2023 if it continues.
Historically, this is a continuation of the bearish trend with even lower lows ....no surprise though eh? Captain obvious!
Obviously, the reverse is true as well from the chart that the 12M RSI trending up through MA indicates market reversal and case for a multiyear bull market. Right now we look FAR from this bullish type scenario.
Will follow.