Interesting constellation forming on MACD. It is heading towards bear crossing. I looked through past few months of this 4H chart and this other highlighted point showed most resemblance if it would indeed cross.
Massive bear divergence formed during the week 3.-11.9 leading to a price drop. RSI seems to bounced off that trend line.
Orange pennant in the downtrend was pierced but move itself bounced off 200 MA quite successfully so far and the price closed just above the trend line.
BB squeeze indicates jump ahead, so far opening downwards.
So either we stop here hard and cross that RSI trend in a blast up or if we continue chop chop we might take the elevator to 3850 CNY.
blasted up
worked out in the end
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