Based on weekly of NVDA we ended at top of candle but RSI has some bearish divergence. I suspect we will correct this week as a result. correction may be 2 fold
1) small correction to 170$ by end of week to re-test RSI trend line
2) larger correction with re-established new RSI upward trendline
3) very deep correction
Not sure our bear rally was high enough a bounce yet for option 3
Option 1 and 2 seem most reasonable as such.
The case for continued bullish days ahead for the week is reasonable on the daily chart but with weekly minor bearish divergence more likely a correction of some kind coming.
I suspect option 1 will be most likely so as to continue the bear market bounce for a larger leg down
1) small correction to 170$ by end of week to re-test RSI trend line
2) larger correction with re-established new RSI upward trendline
3) very deep correction
Not sure our bear rally was high enough a bounce yet for option 3
Option 1 and 2 seem most reasonable as such.
The case for continued bullish days ahead for the week is reasonable on the daily chart but with weekly minor bearish divergence more likely a correction of some kind coming.
I suspect option 1 will be most likely so as to continue the bear market bounce for a larger leg down