Weekly Outlook for Week 7-11 August 2023.
We see from this past week that we've respected the SIBI from and closed bearish on Friday.
Taking into consideration that we certainly are in a tight range as far as the weekly breaker is concerned, I still have bearish expectations going into the new week to seek sell-side liquidity and rebalance the BISI left from last month.
Also taking into consideration that we're at the 3rd quarter of the year, this may call for prices to retrace back to discount prices going into the holidays.
We see from this past week that we've respected the SIBI from and closed bearish on Friday.
Taking into consideration that we certainly are in a tight range as far as the weekly breaker is concerned, I still have bearish expectations going into the new week to seek sell-side liquidity and rebalance the BISI left from last month.
Also taking into consideration that we're at the 3rd quarter of the year, this may call for prices to retrace back to discount prices going into the holidays.