The forecast hybrid week May/June: BULL
This assessment in no way considered financial advice.
Looking at this week's candle we see that it was bull and closed well above last week. It did so with less volume than the previous week. It also broke the trending resistance line indicating higher prices are probable. The tails; nill on the bottom and XS on the top, shows lacking resistance from the Bears. The OBV was trending down but now has a visible bump above the previous bump, this has not been seen for a while. Good probability for the Bulls.
When inspecting the daily chart one can see that Monday was the major move and it set the tone for the week. Still, there was movement from Tuesday to Thursday but it was a tug of war. Friday suffered the consequences of the tug-of-war and finished off the week with a small almost doji. Looking at the volume, it visibly decreased as the week went on, this indicates some weakness in the uptrend, which likely confirms there will be another Bear rally. Let's see though, it is early days for the retracement. There is plenty of room for this rally to go higher as it will likely try to hit the trending resistance line that can be seen. The OBV is trending upward, for now, it has just swung. But I see this week taking a small dip and likely at the start of the week. Anything else will be a full Bull week.
This assessment in no way considered financial advice.
Looking at this week's candle we see that it was bull and closed well above last week. It did so with less volume than the previous week. It also broke the trending resistance line indicating higher prices are probable. The tails; nill on the bottom and XS on the top, shows lacking resistance from the Bears. The OBV was trending down but now has a visible bump above the previous bump, this has not been seen for a while. Good probability for the Bulls.
When inspecting the daily chart one can see that Monday was the major move and it set the tone for the week. Still, there was movement from Tuesday to Thursday but it was a tug of war. Friday suffered the consequences of the tug-of-war and finished off the week with a small almost doji. Looking at the volume, it visibly decreased as the week went on, this indicates some weakness in the uptrend, which likely confirms there will be another Bear rally. Let's see though, it is early days for the retracement. There is plenty of room for this rally to go higher as it will likely try to hit the trending resistance line that can be seen. The OBV is trending upward, for now, it has just swung. But I see this week taking a small dip and likely at the start of the week. Anything else will be a full Bull week.