Opinion: bullish.
Alternative scenario: The downside breakout 231.4 entail a return to levels of 208.2 and 194.5.
RSI is above 70. This situation can indicate a strong bullish trend, or overbought condition, in the latter case, expected technical correction. Then we have to watch for divergences between the RSI and the trend rate. MACD is above its signal line and negative. MACD must penetrate up the zero line to confirm continued growth. In addition, the rate is below its 50-day (253.4806) but above its 20-day moving average (243.5315).
Alternative scenario: The downside breakout 231.4 entail a return to levels of 208.2 and 194.5.
RSI is above 70. This situation can indicate a strong bullish trend, or overbought condition, in the latter case, expected technical correction. Then we have to watch for divergences between the RSI and the trend rate. MACD is above its signal line and negative. MACD must penetrate up the zero line to confirm continued growth. In addition, the rate is below its 50-day (253.4806) but above its 20-day moving average (243.5315).
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