Again, we got the expected Monthly Close, This time GREEN
April is traditionally a Strong Green Month, now with 9 Green Closes to 5 RED - Nearly twice as many Green to Red.
MAY is a different story, Nearly 50 / 50 previous closes with GREEN having an advantage of 1.
BUT, With April closing Green after the previous months closes, things do look positive.
On only 2 occasions have we had a GREEN JAN, RED FEB, RED MARCH, GREEN APRIL
And Both of them were on the way to ATH. ( Arrows )
On both those occasions we had a GREEN MAY, though the gains weer minimal and one was followed by a Green June and the other by a Red June.
We have had 4 occasions with a MARCH RED, APRIL GREEN, MAY GREEN
Of the previous 9 GREEN April Closes, 5 were followed by a Green June
And of those 5, 2 were followed by consecutive Green candles closes for the following Months.
Though in 2020 sequence ( 2nd Arrow) after a GREEN May close, you can see the candles were not big and we had Red Green Green Red for 4 months then went Green consecutively.
Of the previous 7 Green MAY candles, 4 were Bigger than the previous month candle.
I am more inclined to look at the 2020 sequence in this for now and yet, at the same time, as posted in another chart, I am also still looking at the lead up to the 2017 ATH and for this to continue, we need a Bigger GREEN MAY close this month.
There is a very strong line of resistance just over head.
Currently, at time of writing, The opening MAY candle is GREEN but only just
This month is CRUCIAL
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.