The stock market for this week continue to retrace further where it touches the Fibonacci level at 0.382 – 0.50. Thereafter, it seems to linger within this range for few days. The market sentiment continues to be bearish (due to the news on rising inflation rate, Ukraine & Russia conflicts) with closing at USD438 on 15 April 2022.
In view of the bearish engulfing pattern on closing 15 April 2022, the stocks might face a further short-term bear market until it touches the 0.236 level (which most likely until mid-May 2022). During this time, it is best advice to take this short term advantage to short the market or to buy the stocks in dollar cost averaging.
In view of the bearish engulfing pattern on closing 15 April 2022, the stocks might face a further short-term bear market until it touches the 0.236 level (which most likely until mid-May 2022). During this time, it is best advice to take this short term advantage to short the market or to buy the stocks in dollar cost averaging.
Comment:
Sorry, the date should be 14 April 2022 instead of 15 April 2022 (Public Holiday in US)