@beisha Yes you read that correctly, it is still not a buy. The...

@beisha Yes you read that correctly, it is still not a buy.

The reason’s for that are….
The most telling is todays wide spread high volume bar closing at the days low and closing lower than the previous three lows.
Both stochastics (5 & 14) have crossed below their sig lines and scraping the bottom of the range.
The MACD is trending down with no visible sign of turning up.
I have a low alert signal on my system from today’s action.
Looking at todays chart there is no sound reason for entering (at least looking at the charts for guidance) until we see the daily indicators turn up.
Support may be had around 22

The Weekly chart is very bearish looking & also has a low alert sig at this time, that may change depending on how they finish the week.
Stoch's 5 & 14 at this stage of the week are trending down strongly as is the MACD
The MACD looks like it is going to cross below its sig line & the Histogram is moving down toward the zero line.

One positive I do see on the weekly atm is that the Histogram shows a divergence & is rising, that is usually a good sign but it can take a few bars for the sp to follow.

If the sp continues down as it looks likely to do, the rising L/T trend should provide support around 22 but if that fails to hold then 18.5 would be the next logical support. That is still a large risk to ones capital but far better than buying now before the indicators start to turn.
The week is not yet done so the weekly chart will be different by Fri close.