The on-balance volume (OBV) has major resistance at its WMA and the downtrend, line a.
The RS line dropped below its WMA a few weeks ago but turned up last week.
The OBV is now testing its WMA, but it has been holding up better than prices.
The RS line recently moved above its WMA, but does not yet show a completed bottom.
The OBV held above its WMA and in early March broke out to new rally highs.
Heavy volume last week dropped the OBV below its WMA and support at line f.
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Also, the WMA of the RS line is rising strongly, which is a positive sign.
The OBV has held well above its WMA on the correction and has now turned higher.
The relative performance has moved above its WMA and is testing its downtrend, line c.
The weekly on-balance volume (OBV) also fell below its WMA in April before dropping sharply.
It is now slightly below its WMA, but is well above its uptrend (line d).
The RS line has bounced from its WMA, with more important support at line i.
The relative performance is still holding above its rising WMA, and made new highs this week.
The weekly OBV moved through its WMA and overcame its downtrend (line a) in August.
The RS line has dropped back below its WMA, and is now approaching the previous lows.
The OBV is well above its WMA and it could be retested on a pullback.
The weekly OBV (not shown) tested its WMA on the correction but has now turned higher.
The daily on-balance volume (OBV) has broken support and is below its weighted moving average (WMA).
The weekly OBV (not shown) is above its WMA, and is looking more positive.
The weekly OBV (not shown) is well above its rising WMA and is acting very strong.
The weekly OBV (not shown) is back below its WMA but has now turned up.
The OBV was already back above its WMA as the overall market was bottoming (line 1).
The OBV is above its WMA but below the long-term resistance at line f.
The RS line is above its WMA but is still below the 2012 highs.
The daily OBV (not shown) is below its WMA, but is well above the May lows.
The relative performance peaked early in the year, but dropped below its WMA in April.
In these examples, I am using the 14-period RSI with a 21-period weighted moving average (WMA).
The wide gap between the OBV and its weighted moving average (WMA) does favor some consolidation.
The OBV retested its rising WMA on the recent correction and has now made new highs.
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