Potential Bearish Confirmation
5-day EMA has crossed 20-day EMA and confirmed another potential big selloff. Last time these EMAs crossed was back in Feb just before the crash.
5- & 20-day EMAs are good trend analysing tools because in trending markets the price action wants to stay above or bellow the moving averages.
RSI has dipped below 50-level.
Fundamentals also support more bearish thesis: Virus resurgence, funds Q2 end rebalancing most likely going to shift funds from equities to bonds (locking in profits from the massive March bounce), unstable political climate & trade tensions.
5- & 20-day EMAs are good trend analysing tools because in trending markets the price action wants to stay above or bellow the moving averages.
RSI has dipped below 50-level.
Fundamentals also support more bearish thesis: Virus resurgence, funds Q2 end rebalancing most likely going to shift funds from equities to bonds (locking in profits from the massive March bounce), unstable political climate & trade tensions.
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