Dark Cloud Cover on PX. Time to fall?

PX has gone up two days in a row before it registered a red closing today. After reaching intraday high of 8.90 per share, PX fell by 1.5% and close at 8.60 Will there be a rally tomorrow or PX will return to basement?

The candlestick pattern today is showing a Bearish Dark Cloud Cover. This pattern suggests that after the rallies, the bulls are exhausted and the bears is beginning to take position.

Notice that PX is developing a rectangle formation where we see the resistance and the support levels. Notice that everytime the RSI hits near 70 it drops. When it hits 30, it rises. Will this scenario continue?

Caveat!

One Response to Dark Cloud Cover on PX. Time to fall?

  1. Gan Belgado says:

    ganda e apply ang range trading d2, for sure perfect to make gains

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