Bearish Pennant forming but...
Currently, the chart is showing bullish and bearish signs.
Bullish traits:
1. Positive sloping RSI
2. MACD crossing with a green bar
3. VIX MACD (4 hour) crossed today
Bearish traits:
1. Main chart sits in a classic bear pennant
2. Sideways action helps the bears move out of an oversold position
I'm going to continue to wait until a see a firm sign before making my trade.
Bullish traits:
1. Positive sloping RSI
2. MACD crossing with a green bar
3. VIX MACD (4 hour) crossed today
Bearish traits:
1. Main chart sits in a classic bear pennant
2. Sideways action helps the bears move out of an oversold position
I'm going to continue to wait until a see a firm sign before making my trade.
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