Neither Bull nor Bear, Traders look for opportunities to pounce and profit.
2 Day, 1o min. - Sep. 25 - Narrow range of price action limits rewards even when you are right. RSI and CCI lined up to trigger a trade but the results were anemic.
20 Day, 2 Hour - Sep. 25 - Price action approaching the lower support of the channel. Technicals suggest a little more room to the downside but much more to the upside. At the same time if the lower support is broken, then the market could move much lower.
3 Month, Daily - Sep. 25 - Notice how the RSI and CCI are both in oversold condition. The market can remain oversold so the timing of a bounce cannot be anticipated with certainty, but it will happen at some point. The RSI is a "lead indicator" and is an excellent signal as to reversal. The CCI should confirm the RSI behavior. Reversals are also frequently accompanied by double bottoms or double tops seen more easily on 10 & 15 minute charts.
1 Year, Weekly - Sep. 25 - Long Range chart shows dominate Bullish Channel Trend. Market price action is near the base of the channel and suggests a bounce can be expected soon assuming the Bull remains defensive at this juncture.
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