For week 2 of May 2022, the probability sits with the Bears
This information is in no way financial advice.
Week 1 of May was Bear, per forecast keeping my accuracy just over 6/10 or 60%. This week produced a pin bar or a hammer. The body of the candle did not enter the body of the previous week, instead, it remained in the bottom tail. The low has stopped at a support price point. The Top tail did not penetrate more than 50% into last week's body. The volume is declining. The OBV is sharply Bear and returning to its normal range. The sentiment for the next week is Bear on the week,
Onto the Day chart and we can see the Bear move was from Monday's candle. Tue & and Wed it reclaimed lost value, Thur halted further advancements with a solid pin bar, shooting star and Friday a spinning. All of this indicates that the bears are the main influencer and the Bulls are trying to intercept, with some wins being highly rejected. However the more this increases the more they improve their chances. For now, though the candles say Bear. The volume can see an increase in buying and the OBV is horizontal, recently beginning to tilt upward slightly. Still overall Bears seem to have the influence
This information is in no way financial advice.
Week 1 of May was Bear, per forecast keeping my accuracy just over 6/10 or 60%. This week produced a pin bar or a hammer. The body of the candle did not enter the body of the previous week, instead, it remained in the bottom tail. The low has stopped at a support price point. The Top tail did not penetrate more than 50% into last week's body. The volume is declining. The OBV is sharply Bear and returning to its normal range. The sentiment for the next week is Bear on the week,
Onto the Day chart and we can see the Bear move was from Monday's candle. Tue & and Wed it reclaimed lost value, Thur halted further advancements with a solid pin bar, shooting star and Friday a spinning. All of this indicates that the bears are the main influencer and the Bulls are trying to intercept, with some wins being highly rejected. However the more this increases the more they improve their chances. For now, though the candles say Bear. The volume can see an increase in buying and the OBV is horizontal, recently beginning to tilt upward slightly. Still overall Bears seem to have the influence