The momentum indicator has fallen below the zero level on this timeframe and has formed a lower swing low...hinting of further weakness ahead. And, as I mentioned in this February post, major support is at 50.00, so a break and hold below would likely see price retest the October 2016 lows, or drop lower.
* UPDATE @ close...WFC continued its intraday drop and closed near its low of the day at 52.26.
And, this report just out doesn't bode well for a sustainable rally any time soon.
* UPDATE @ close...WFC continued its intraday drop and closed near its low of the day at 52.26.
And, this report just out doesn't bode well for a sustainable rally any time soon.
