The prognosis for week 3 of May 2022 is Bull
This assessment in no way considered financial advice.
This week produced a candle with a body and bottom tail that were similar in size. The top tail was a little shorter. None of this week's body protruded into last week. The volume was steady, and the OBV is trending down. All looks pretty Bear, correct. Well, let's look at the trend line, and notice how steep the rally is, vs the projected trend line. Well, the further this becomes the greater the chances of a correction back to the line. In this instance, this probability has now increased to "likely".
This assessment in no way considered financial advice.
This week produced a candle with a body and bottom tail that were similar in size. The top tail was a little shorter. None of this week's body protruded into last week. The volume was steady, and the OBV is trending down. All looks pretty Bear, correct. Well, let's look at the trend line, and notice how steep the rally is, vs the projected trend line. Well, the further this becomes the greater the chances of a correction back to the line. In this instance, this probability has now increased to "likely".