JPM stock price justifies a bounce higher towards $126 at least.

news | 21.06.2022 15:22
Australian GDP Holds Steady at 0.4% as RBA Maintains Rates at 4.10%

Relevance up to 14:00 2022-06-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 21.06.2022 analysis

 

Red lines -bullish RSI divergence

Black lines- Fibonacci retracement

JPM stock price remains in a bearish trend making lower lows and lower highs. So far there is no sign of a bullish reversal. However the RSI in the Daily chart has provided us with an important bullish warning. A bullish RSI divergence is a warning to bears that the downtrend is weakening. The price has made new lower lows but not the RSI for a third time. Price justifies a reversal and a bounce higher towards the 23.6% Fibonacci retracement around $126. As long as this RSI keeps diverging, I prefer to turn neutral JPM. Remaining bearish JPM at current levels is not worth the risk reward.

 

Read more: https://www.instaforex.eu/forex_analysis/281101

Australian GDP Holds Steady at 0.4% as RBA Maintains Rates at 4.10%

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