The forecast for week 3 of May 2022 is a higher probability of Bear on week and Bull on Days
This assessment in no way considered financial advice.
Onto the day chart, looking at the Monday candle, it is a full Bear candle with no tails. This was off a slight correction. Tuesday and Wednesday were equilibrium days. Thursday kicked in the continued Bear slide with Friday producing a Bull candle that resulted in it being an inside bar. This inside bar managed to consume around 70% of Thursday's candle, this means it is likely it will impact the direction of the next rally. So while the trend has is majority influenced by the Bears it is also probable the correction could consume most of this next week.
This assessment in no way considered financial advice.
Onto the day chart, looking at the Monday candle, it is a full Bear candle with no tails. This was off a slight correction. Tuesday and Wednesday were equilibrium days. Thursday kicked in the continued Bear slide with Friday producing a Bull candle that resulted in it being an inside bar. This inside bar managed to consume around 70% of Thursday's candle, this means it is likely it will impact the direction of the next rally. So while the trend has is majority influenced by the Bears it is also probable the correction could consume most of this next week.