Could be red by cash open

Jun 22, 2020

To me this looks like a pretty standard correction after the big selloff on Friday, which is seen by the bullish divergence on the RSI. It has retraced to the neckline, so the direction for the rest of the night/morning will most likely be decided by if it holds or not, which by the decreasing volume it looks like it won't. Overall it is still looking pretty bearish as of now, but it could be a different story if it breaks upward. It's hard to gauge the current sentiment due to the aggressive price-pinning last week, but it appears that there's still bearish momentum. There could be a nasty sell-off in the morning either way.

Jun 22, 2020

Note

Ended up breaking upwards, which was always a good possibility. Despite the low volume, it spent the rest of the day rising, so bullish momentum was key, but it wasn't exactly buying momentum more-so than lack of selling.