What's going down for April week 2022: we have Bears on the week and the day, so Bears it is.
The month of March says the Ozzie dollars have got some potential to go up. But she ain't confirmed yet. It's got close above 77 for a good chance. It has good increasing volume and decent candle bodies so we will see.
Dropping down into the week view and we got a candle that Doji'd last week and stalled at a previous resistance line, bugger! The volume ain't too supportive of new highs at the moment, we got some Bear evidence here. Or a sideways range could be forming. The pin-bar is pretty damaging for higher prices. The OBV has a slight Bull direction and this is higher than the candles....is this a sign of the intended direction?? looking at the evidence we have more evidence of a trend towards 70 or maybe even 72. 72 would be better because that turns this into an upward support trend.
Going down further, let's get into the Day chart. Okay so Monday punched out a Bull candle on Monday but Tuesday left us with a pin-bar and this was then supported by a Bear candle on Wednesday, which, was able to punch into the 50% mark of Monday's candle. The Bears again succeeded in breaking Mondays open by closing below the support line of the last few days. around 74ish bucks. Friday again secured the break to lower prices but with two warnings
#1 it is a slight pin bar
#2 its volume is decreasing
So the probability for week 3 is going to the Bears
The month of March says the Ozzie dollars have got some potential to go up. But she ain't confirmed yet. It's got close above 77 for a good chance. It has good increasing volume and decent candle bodies so we will see.
Dropping down into the week view and we got a candle that Doji'd last week and stalled at a previous resistance line, bugger! The volume ain't too supportive of new highs at the moment, we got some Bear evidence here. Or a sideways range could be forming. The pin-bar is pretty damaging for higher prices. The OBV has a slight Bull direction and this is higher than the candles....is this a sign of the intended direction?? looking at the evidence we have more evidence of a trend towards 70 or maybe even 72. 72 would be better because that turns this into an upward support trend.
Going down further, let's get into the Day chart. Okay so Monday punched out a Bull candle on Monday but Tuesday left us with a pin-bar and this was then supported by a Bear candle on Wednesday, which, was able to punch into the 50% mark of Monday's candle. The Bears again succeeded in breaking Mondays open by closing below the support line of the last few days. around 74ish bucks. Friday again secured the break to lower prices but with two warnings
#1 it is a slight pin bar
#2 its volume is decreasing
So the probability for week 3 is going to the Bears
Comment:
boom nailed it!!, Hope you all had a great week, I did.