For April week 4 the forecast is: Bear but with caution starting put the week
This week the candle was Bear, large, with a little top tail, and no tail on the bottom, It broke free, now another Bear rally begins. The volume was not large, this indicates sellers' market. The OBV has a mountain peak where the horizon is level (basically not trending down) this week should change that direction but can only do so if this next week is also a decent bear signal. Week equals Bear.
Moving onto the Day chart. Mon - Thur was mostly inactive as equilibrium continued. Friday's candle produced the week's solid bear candle. The volume was steady, with a marginal uptrend and the OBV is convincingly Bear. A catch 22 for this week, either a correction will happen or a succession of Bear candles will follow. The price action of a pin bar, Doji, and spinning top on Monday would signal caution as it increases the probability for a correction before heading down again. A price action bear spinning top, with some body size or a Bear hammer, would indicate a higher chance of a Bear continuation
This information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
This week the candle was Bear, large, with a little top tail, and no tail on the bottom, It broke free, now another Bear rally begins. The volume was not large, this indicates sellers' market. The OBV has a mountain peak where the horizon is level (basically not trending down) this week should change that direction but can only do so if this next week is also a decent bear signal. Week equals Bear.
Moving onto the Day chart. Mon - Thur was mostly inactive as equilibrium continued. Friday's candle produced the week's solid bear candle. The volume was steady, with a marginal uptrend and the OBV is convincingly Bear. A catch 22 for this week, either a correction will happen or a succession of Bear candles will follow. The price action of a pin bar, Doji, and spinning top on Monday would signal caution as it increases the probability for a correction before heading down again. A price action bear spinning top, with some body size or a Bear hammer, would indicate a higher chance of a Bear continuation
This information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Comment:
Bears , woohoo 4 from 4