PROCTER & GAMBLE: This volatility implies a major market bottom.

Procter & Gamble is neutral on both the 1D (RSI = 47.822, MACD = 0.180, ADX = 17.832) and 1W (RSI = 49.820, MACD = 0.340, ADX = 20.781) technical outlooks as despite last week's rebound and this ones early strong rise, it pulled back and is about to close the 1W candle flat. We are exactly on the 1W MA50, which inside the 2 year Channel Up has always been a fair level to go long. The 1W RSI indicates that last week's low may be the symmetric low to December 11th 2023. This kickstarted a rally that hit the 1.5 Fibonacci extension. Consequently we are bullish long term, aiming at just under the new 1.5 Fib (TP = 190.00).


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