On a technical basis, one of the more foreboding indicators is a real high probability that the short-term 50 day moving average will cross below the longer-term 200-day moving average, which is commonly referred to as a death cross.
Most technical analysts use the 200-day moving average as a gauge of a long-term trend, and the 50-day moving average as a gauge of the short-term trend. Any stock or commodity which is trending higher will result in the shorter-term moving average above the longer-term moving average. Therefore, a death cross can signal when a short-term decline has moved into a longer-term decline or downtrend.
With that said, the Cross comes with an oversold condition.
I could see a rally attempt back to the congested area around $1290ish, with the RSI moving back up to 50ish.
Edited by Rogerdodger, 23 June 2018 - 09:11 AM.