$ORCL is near the daily low. Don’t buy the dip unless it gets back above 119.
At 17:00, a sudden surge in volume punched through the 119 support level and sent it straight down to around 118. The RSI dropping to 16 looks scary—that’s deeply oversold—but positions haven’t noticeably unwound, so this looks more like a continued grind lower. A weak bounce can’t get past 119, and the market still feels hollow; a break below 118 would make things even uglier.
U.S. tech futures are all looking weak tonight. Don’t rush to pick a bottom. Not investment advice.
#MarketAnalysis
At 17:00, a sudden surge in volume punched through the 119 support level and sent it straight down to around 118. The RSI dropping to 16 looks scary—that’s deeply oversold—but positions haven’t noticeably unwound, so this looks more like a continued grind lower. A weak bounce can’t get past 119, and the market still feels hollow; a break below 118 would make things even uglier.
U.S. tech futures are all looking weak tonight. Don’t rush to pick a bottom. Not investment advice.
#MarketAnalysis
