Speculation, Likelihood of a retracement on this market
Manufacturing production m/m will be announced in few minutes. I am expecting it to compliment this butterfly pattern. It is unclear whether the market will continue to go bearish as it is in demand and supply zone(area). We are expecting a retracement untill next week. it is time for bears to take profit since it is the end of the week also.
As always keep an open mind, I could be wrong. This news event could be negative so theres a potential of it to go down south. Anyway according to my analysis, there is a divergence on my RSI which confirms the possibilityof going bull and the MACD has crossed up, indicating bullish too
Good luck :)
Happy trading
As always keep an open mind, I could be wrong. This news event could be negative so theres a potential of it to go down south. Anyway according to my analysis, there is a divergence on my RSI which confirms the possibilityof going bull and the MACD has crossed up, indicating bullish too
Good luck :)
Happy trading
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.