Medium term view - Phila SemiC index : The RSI displays a bearish divergence.
The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain above the invalidation level at 1,211.490 pts. It can resume at anytime towards the target at 1,487.000 pts.Arguments :
- Prices are pulling back to the major support level (previously a resistance). The rise will resume afterwards.
- The resistance has been shortly breached, but it is now reinstated. Prices can fall.
- The RSI displays a bearish divergence.
- The moving average is supporting prices.
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