2 days ago the chart was starting to signal buys because it was leveling and perhaps trying to climb. Now we have confirmed continuation of the shelf.
Buyers want lower prices before coming in.
Buyers coming in a lower prices means declining value.
This could reverse quickly, but if it does not do so, expect values to continue decent or reach sideways.
The decline has slowed and so the chart seems to be insinuating the downward arch is reaching a point of resistance equal to upward force to start driving sideways or upward.
Let me know what you think.
Not investment advice, please do your own research and DD.
Buyers want lower prices before coming in.
Buyers coming in a lower prices means declining value.
This could reverse quickly, but if it does not do so, expect values to continue decent or reach sideways.
The decline has slowed and so the chart seems to be insinuating the downward arch is reaching a point of resistance equal to upward force to start driving sideways or upward.
Let me know what you think.
Not investment advice, please do your own research and DD.
Even though I am neutral at this point, the chart seems to want to signal buys but resistant forces have prevented follow through.
We go lower, but the force pulling down is starting to meet equal force upward. Would not surprise me to see this move fast when it does.