However, being bearish from fundamental point of view I see following bearish signals on weekly:
- upper bollinger violation
- macd divergence
- rsi above 60 (normally 70+ is a sign of topping but for weekly charts 60+ can often serve as one)
- volumes of last 3 weeks (they produced green bars) are notably lower than volumes of preceeding weeks that produced red bars.
- market is 15 cents above sma20, and
- parabolic indicator is still bullish.