ShanayaQueen
06/14 04:19
Derivatives data points to weak market conviction
Derivatives data points to weak market conviction
The selling pressure appears broad-based. Accumulation/Distribution (A/D) printed a reading of -6.3 trillion, confirming a dominant exit phase.
Additionally, the Parabolic Stop and Reverse (SAR) aligns with this sentiment, as dots have formed above the current price. If more dots form, it would imply increased selling volume in the market.
Finally, the Moving Average Convergence Divergence (MACD) has confirmed a death cross pattern.
This pattern forms when the MACD blue line crosses below the signal orange line, indicating a likely significant price drop.
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