Today's gap down came after a higher high but seems to confirm a negative RSI divergence against the earlier high which is bearish.
It also failed to reach the 423p target from the W formation so it now seems to me that this rally was simply a corrective pattern despite the bullish RSI divergence at the recent low. It's not clear from the chart as shown, but yesterday's price high came as the RSI touched it's downtrend resistance which shouldn't really have happened until price was close to its downtrend and this adds to the bearish nature of the chart now.
It also failed to reach the 423p target from the W formation so it now seems to me that this rally was simply a corrective pattern despite the bullish RSI divergence at the recent low. It's not clear from the chart as shown, but yesterday's price high came as the RSI touched it's downtrend resistance which shouldn't really have happened until price was close to its downtrend and this adds to the bearish nature of the chart now.
I'll be steering clear of this until a clearer opportunity