And, the market put in a 45 bar new low here, adding bearish pressure. RSI is in neutral territory. MACD is in bearish territory, but has not issued a signal here. MACD is in bearish territory. Further, the market just put in a 45 bar new low here.
More lows are possible here.
The current new low is accompanied by increasing volume, suggesting further new lows are ahead. The short term market trend, based on a 5 bar moving average, is DOWN.The current new low is accompanied by increasing volume, suggesting further new lows are ahead. However, be careful to avoid selling an oversold market. RSI or MACD may be helpful here. Don't be fooled looking for a bottom here because of this indicator.