1. RAIN is inside a channel and consolidating and didn't slide much during the June-October carnage.Closing above 200s would reverse the trend.
2. The vix fix is suggesting there's not much correction left and the bottom is being made
3. The yellow arrow area shows the trend is still bearish. But at the end, there's sign of a trend reversal, which will be confirmed once RAIN closes above 200.
2. The vix fix is suggesting there's not much correction left and the bottom is being made
3. The yellow arrow area shows the trend is still bearish. But at the end, there's sign of a trend reversal, which will be confirmed once RAIN closes above 200.
Comment:
As part of the consolidation, RAIN could fill the gaps it left. Expecting it to retrace to 160s again,
