The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band. Given that we closed at a 45 bar new high, the chance for further bullish momentum is greatly increased. Look for some price weakness before taking any bearish positions based on this indicator. Volatility is in a downtrend based on a 9 bar moving average.
Momentum is in bullish territory.upside move is likely.
And, the market put in a 45 bar new high here. More highs are possible. Rate of Change is in bullish territory. And, the market put in a 45 bar new high here. More highs are possible.