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As shown on the daily chart below, a moving average “Death Cross” has formed on the World Market Index. It closed out Q2 2018 just above horizontal price support and below trendline support, as well as below both moving averages.
All three technical indicators are in negative territory, hinting of further weakness ahead, particularly if price drops and holds below 1950 on accelerating RSI, MACD and PMO declines.
Even with the recent “pop” in $BTC prices, I wanted to share a few bearish charts. I’ve been yammering on about cryptos more than is necessary, I suspect (I’ve never owned a single one), but as a chartist I’ve been captivated at all the right triangles showing up, as with Bitcoin:
As a companion piece of yesterday’s dozen potential new shorts, here is the second half:
