Purple lines - weekly channel
White line - trend line
First thing I notice was that the trendline you see on the chart is mirrored on the RSI here.
Its important that both give way.
390 is weekly channel resistance turned support. If we drop below that , our immediate target is the 21EMA at 383. I don't want to get to far head here. but just watch for that trendline and 390 support..
IMO , it all depends on how far the chip sector pullback will be
White line - trend line
First thing I notice was that the trendline you see on the chart is mirrored on the RSI here.
Its important that both give way.
390 is weekly channel resistance turned support. If we drop below that , our immediate target is the 21EMA at 383. I don't want to get to far head here. but just watch for that trendline and 390 support..
IMO , it all depends on how far the chip sector pullback will be
