SAP: look at that bullish divergence!
Using the RSI to calculate bullish/bearish divergence conditions over multiple time frames (daily, weekly, monthly).
Divergence period used is 8 periods (Fibonacci number).
Bullish divergence is when the price is making lower lows, while the indicator (RSI) is making higher lows.
Indicates underlying strengths. Bears are exhausted. Warning of a possible trend direction change from a downtrend to an uptrend.
Divergence period used is 8 periods (Fibonacci number).
Bullish divergence is when the price is making lower lows, while the indicator (RSI) is making higher lows.
Indicates underlying strengths. Bears are exhausted. Warning of a possible trend direction change from a downtrend to an uptrend.
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