What's going down for week 3 April 2022 - The Bears will own this week but heed the warning of the support line.
This Weeks candle was Bear, as forecasted. It also closed with a new low giving strength to the Bear movement, but it now needs to break the 1.069, hitting or experiencing some support is probable during the price point. The selling volume has increased from the week prior and the OBV is trending down nicely. The probability for the week is stronger for the Bears.
Moving down to the Day chart and the only Bull candle was eliminated by the immediate Bear candle and then another, although Thursday (only 4 day week) was a very small candle. The OBV is down, the evidence points more towards more Bear days for the next week.
This Weeks candle was Bear, as forecasted. It also closed with a new low giving strength to the Bear movement, but it now needs to break the 1.069, hitting or experiencing some support is probable during the price point. The selling volume has increased from the week prior and the OBV is trending down nicely. The probability for the week is stronger for the Bears.
Moving down to the Day chart and the only Bull candle was eliminated by the immediate Bear candle and then another, although Thursday (only 4 day week) was a very small candle. The OBV is down, the evidence points more towards more Bear days for the next week.
Comment:
Accurate but low profitability if you entered on the week open