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Intraday: the RSI is overbought.

By Kilunda_oxox | kilunda_fxblg | 10 May 2020


Preference.

The upside prevails as long as 305 is support.

 

88d27849cf00770e9a9d1022ed72d86728f8480a1188d9666d72c8b0342e2452.jpeg0c564afff13217f9313149c9885f0cb328828475b036be2eaa2bdcb3ee8554c3.jpegThe RSI is above 70.https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.investopedia.com/ask/answers/012015/how-do-i-use-relative-strength-index-rsi-create-forex-trading-strategy.asp&ved=2ahUKEwjzgfTs3ajpAhXCD2MBHSkVC3AQFjACegQIDRAN&usg=AOvVaw3-T7VnFl0oM2cMmm4PHUpr it could mean either that price are in a lasting uptrend or just overbought and therefore bound to correct(look for bearish divergence in this case). The MACD is positive and above its signal line.https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.babypips.com/learn/forex/macd&ved=2ahUKEwiatrn03qjpAhUcDWMBHYSkDNYQFjAEegQIDBAI&usg=AOvVaw08wwmhZGP5odXKrwaLWNpS

The configuration is positive. Apple is about its 20 and 50 period MA (respectively at 305.86 and 303.16)

Alternative scenario.

The downside breakout of 305 would call for 301.8 and 299.8.

 

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Kilunda_oxox
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kilunda_fxblg
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