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.
This is normal as delivery approaches and indicates increased liquidity. The current new low is not accompanied by increasing volume, suggesting that the current move lacks broad participation. Look for a rebound soon. The short term market trend, based on a 5 bar moving average, is DOWN.The current new low is accompanied by an increase in volume over the last few sessions. In general this is bearish, but be careful to avoid an oversold market.