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30.09.202214:51 Forex Analysis & Reviews: PG stock price at fresh new weekly lows.

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Black line- support

PG stock price is trading at levels not seen since March of 2021. Price is breaking to new 2022 lows in a bearish pattern that might have even worse implications for bulls for the next few months. PG has continuously made lower highs over the last few months and this week price broke below June lows. Very possible target for this down trend is the black upward sloping trend line at $124.70.-125. The RSI is not making new lows but has also not reached oversold levels. Both times the RSI reached as low as 34-35 we saw major lows being formed and major trend reversals. Will we see a repetition of the past? This is not the time for bears to get overconfident. They need to be cautious. They continue to have the upper hand, but there are increased chances of creating a major low around $125.

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