RSI started to show signs of forming a positive divergence after approaching the previous low of 44.02. Meanwhile, we can’t affirm this divergence, as trading remains below moving averages and below the resistance line.
Moving between 46.15 and 44.00 forces us to remain neutral, although, the negative sign is stronger according to ADX readings.
Moreover, support of 44.00 is another reason for neutral stance, but coming below 44.00 will damage the positive divergence.
Support: 44.50 – 44.00 – 43.30
Resistance: 45.00 – 45.50 – 46.15
Direction: Neutral, but bearish below 44.00