For April week 5ish slash May week 1ish.....is....Bear but needs price close 1874 before entering.
This week was Bear with a decent body and a medium type tail on the downside. This week the candle pushed well below last week. The tail also reached a new low but the body did not break the previous tails, Volume has slightly increased and the OBV has sharply pointed down. This next week has evidence for another Bear but the close price is certainly at a key level where volatility is possible.
Sinking into the Day chart, Monday opened a strong Bear candle with basically no tails. This was the move for the week, Tuesday paused with a small Bull candle, then another push south of Wednesday. Thursday and Friday kicked in a small retracement but will the week have a pin bar the Friday produce a rejection pin bar. The evidence does suggest further Bears candle this week, but there is a chance of a few days where this week can go sideways. Price action close below 1874 is needed.
This week was Bear with a decent body and a medium type tail on the downside. This week the candle pushed well below last week. The tail also reached a new low but the body did not break the previous tails, Volume has slightly increased and the OBV has sharply pointed down. This next week has evidence for another Bear but the close price is certainly at a key level where volatility is possible.
Sinking into the Day chart, Monday opened a strong Bear candle with basically no tails. This was the move for the week, Tuesday paused with a small Bull candle, then another push south of Wednesday. Thursday and Friday kicked in a small retracement but will the week have a pin bar the Friday produce a rejection pin bar. The evidence does suggest further Bears candle this week, but there is a chance of a few days where this week can go sideways. Price action close below 1874 is needed.
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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.