The forecast for week 3 of May 2022 is a higher probability of Bear
This assessment in no way considered financial advice.
This week was a decent Bear candle, the body and tail were of similar size. The total moving range was very significant. This was matched by the volume, also very large. The selling momentum may take hold this week but it does depend on what the day tells us about the tail. Based on what we are seeing, the evidence suggests a higher probability for the Bear this next week. High selling volume, large Bear candle and coming off a peak high.
This assessment in no way considered financial advice.
This week was a decent Bear candle, the body and tail were of similar size. The total moving range was very significant. This was matched by the volume, also very large. The selling momentum may take hold this week but it does depend on what the day tells us about the tail. Based on what we are seeing, the evidence suggests a higher probability for the Bear this next week. High selling volume, large Bear candle and coming off a peak high.