【REI trend analysis】
1.K line shape:
-In the recent 4-hour period, the price has fallen sharply, the latest K-line entity is longer, and the closing price is close to the lowest price, indicating strong seller power.
-On the daily chart, the K line on March 29 is a long negative line, which shows that the price fell rapidly after the opening of the day and the buyer's momentum was insufficient.
2.Technical indicators:
-In the MACD indicator, DIF has turned from positive to negative, and the MACD column line has also turned from positive to negative, indicating that the market may weaken further in the short term.
-The J value of the KDJ indicator has entered the oversold zone in the 4-hour period, but there is still no sign of recovery, and there is no obvious reversal signal for the time being.
-EMA7 has penetrated EMA30 on the 4-hour period and diverged downwards, which is a short-term bearish signal.
3. Trading volume:
- Corresponding to the price decline, trading volume increased from March 28 to 29. Especially when the price dropped sharply, the trading volume was enlarged, indicating that this decline was accompanied by higher trading volume and stronger downward momentum.
-The trading volume has shrunk slightly in the latest cycles, but considering that the price is still at a low level, we need to be wary of whether there will be more selling in the future, which will lead to a further bottoming of the price.
