The market keeps rallying last week and now we have five weeks in green in a roll. Now we are very close to break out the downtrend channel from last Nov. Now RSI and STO again rise to the overbought level and triple negative divergence on both charts. Next week, we can see some pullback. 50MA ~790 is the key line to watch if pullback happens. i will next surprise also if the market keeps moving higher, in a bull market, overbought cam be easily cleared even by a small consolidation without any pullback. i am not calling this is bull market yet……
On the weekly chart, we already see the momentum breakout, which usually lead the price. expect some further rally on weekly basis.
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