ASX200 Bearish Cypher Retracement
We've hit the 786 here on the Bearish Cypher.
ADX has reached extremes and shows the bullish DX cloud beginning to fade out
RSI is showing maturing Bearish divergence as it falls under the moving average and out of the bullish control zone
Id love to see a lower low and lower high locally to confirm the downtrend.
A common retracement to the 382 would bring you to about 7000 and the 618 sits around 6700.
ADX has reached extremes and shows the bullish DX cloud beginning to fade out
RSI is showing maturing Bearish divergence as it falls under the moving average and out of the bullish control zone
Id love to see a lower low and lower high locally to confirm the downtrend.
A common retracement to the 382 would bring you to about 7000 and the 618 sits around 6700.
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