A good chance April week 4 will be....da dada daaaa: Bear but watch from the $1918 price point
This week did not go Bull but instead made last week's candle a fakey, because it had broken out the previous week, and that week was the inside bar. This week was a Bear candle, with a tail toward the north, it is rejecting higher prices. An insignificant tail toward the south. It also means that we now have the potential for a sideways trend. Next week does present a good possibility of a Bear candle.
Dropping down into the days, Monday produced a falling star pin bar, it set the direction for the rest of the week. The volume has been slightly increasing each day, and the OBV has also changed direction, these indicators support more Bear days. There is a support price line of $1920, a common test price point. Next week will almost certainly test it. A close below the $1918 mark will indicate a stronger possibility of a Bear rally.
This week did not go Bull but instead made last week's candle a fakey, because it had broken out the previous week, and that week was the inside bar. This week was a Bear candle, with a tail toward the north, it is rejecting higher prices. An insignificant tail toward the south. It also means that we now have the potential for a sideways trend. Next week does present a good possibility of a Bear candle.
Dropping down into the days, Monday produced a falling star pin bar, it set the direction for the rest of the week. The volume has been slightly increasing each day, and the OBV has also changed direction, these indicators support more Bear days. There is a support price line of $1920, a common test price point. Next week will almost certainly test it. A close below the $1918 mark will indicate a stronger possibility of a Bear rally.
Note
another forecast bang on
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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.