10/03/22
COMBINED FORECAST FOR WEEK 2 MARCH 2022 = Probability 51/49 of being bull/bear
DAYS OF FEB
WEEK 1 OF MARCH FORECAST = NO FORECAST MADE
PROBABILITY FOR NEXT WEEK = BEAR
The stock opened bull with the largest move on Tuesday. Most of the week's volume was here as suspected. This is why the week has a decent northward-facing tail. Wednesday returned the price to its trending bull range. Thursday and Friday returned the week to a calm state. Thursday and Friday's candles have south-facing tails, these are rejecting further retracements, I see a higher probability gold will slowly, with small bodies, with continue to bull rally.
The OBV is too volatile and cannot be used.
WEEKS OF MARCH
PREVIOUS ASSESSMENT = NO ASSESSMENT MADE
PROBABILITY FOR NEXT WEEK = equalibrium
This candle is a hammer, it has a significant long tail, the buying volume is also significant it dwarfs all other volumes. This is due to the WAR in Russia. This week's tail broke $2076 high but closed below the previous high close of 2033. This indicates an oversold stock. It is probable the stock will rally later, the War will greatly drive this. For now, it is probable the stock will equalise this week with respect to the body but expect more tails. Keep in mind the longer term is bull, it broke the cup handle formation, this is a reliable pattern.
FORECAST MTH = BULL
COMBINED FORECAST FOR WEEK 2 MARCH 2022 = Probability 51/49 of being bull/bear
DAYS OF FEB
WEEK 1 OF MARCH FORECAST = NO FORECAST MADE
PROBABILITY FOR NEXT WEEK = BEAR
The stock opened bull with the largest move on Tuesday. Most of the week's volume was here as suspected. This is why the week has a decent northward-facing tail. Wednesday returned the price to its trending bull range. Thursday and Friday returned the week to a calm state. Thursday and Friday's candles have south-facing tails, these are rejecting further retracements, I see a higher probability gold will slowly, with small bodies, with continue to bull rally.
The OBV is too volatile and cannot be used.
WEEKS OF MARCH
PREVIOUS ASSESSMENT = NO ASSESSMENT MADE
PROBABILITY FOR NEXT WEEK = equalibrium
This candle is a hammer, it has a significant long tail, the buying volume is also significant it dwarfs all other volumes. This is due to the WAR in Russia. This week's tail broke $2076 high but closed below the previous high close of 2033. This indicates an oversold stock. It is probable the stock will rally later, the War will greatly drive this. For now, it is probable the stock will equalise this week with respect to the body but expect more tails. Keep in mind the longer term is bull, it broke the cup handle formation, this is a reliable pattern.
FORECAST MTH = BULL
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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.