Momentum isnt strong enough to have meaningful follow through. Also the previous 12 hour candle is somewhat troubling. I am of the opinion that we need to start moving down lower and have a full blown panic before we move back up. That being said the 2 hour chart does look nice but isnt enough for me to want to risk any capital.
Immediate Forecast: 70% Bearish
Long Term: VERY BEARISH(Unless we get some news)
Be Patient, I dont believe this bear market is over.
Good Luck and God Speed Gents,
Mr.Manbearpig
Immediate Forecast: 70% Bearish
Long Term: VERY BEARISH(Unless we get some news)
Be Patient, I dont believe this bear market is over.
Good Luck and God Speed Gents,
Mr.Manbearpig
Comment:
Volume decreasing which supports the above analysis.