Biotech is looking weak

8 апр. 2018 г.

The %R on the weekly candle here is showing signs that momentum is shifting down as the RSI still has room to move down. Notice the last time XBI bottomed was with the RSI, not %R. The %R has acted as a bottom over the last 2 years in this channel. However, now that the channel has broken down, the status quo has changed.