The weekly chart still has a bearish bias. Both the RSI and MACD are moving lower. Prices are below all the SMAs. The 10 week SMA has moved below the 20 week SMA, and the 10 week SMA has been moving lower for the last two months.
While the general tone of the daily chart is negative, prices are currently in a bear market flag/pennant pattern. First, note the SMA arrangement -- all the SMAs are moving lower and the shorter SMAs are below the longer SMAs. Prices rallied starting at the beginning of June, but they ran into upside resistance at the 20 day moving average and have since moved lower. While both the MACD and RSI have risen, the price drop frm the 20 day SMA indicates a prices are probably still in a downward trend.
