Gday peeps. For April the probability is: Bear
So last month in March, we got ourselves a flipping hammer as the ETF is heading south. The volume was sitting pretty normal and in that average zone. But the body of the hammer didn't punch or break anything, just the tail did. So what does this all mean? Well, I'd say it is stuck in a range, and I would have forecast it to bounce up. I would have been completely wrong. Check out April it is all body and heading south! However, we may get another pin-bar/hammer.
Let's jump into the week view.
Really my assessment of the month would have been initially correct, it is only this week #2 of April that has bombed lower. The volume is increasing as well so I'd say there is a good probability of lower prices if that volume continues to support more sellers jumping onboard.
So last month in March, we got ourselves a flipping hammer as the ETF is heading south. The volume was sitting pretty normal and in that average zone. But the body of the hammer didn't punch or break anything, just the tail did. So what does this all mean? Well, I'd say it is stuck in a range, and I would have forecast it to bounce up. I would have been completely wrong. Check out April it is all body and heading south! However, we may get another pin-bar/hammer.
Let's jump into the week view.
Really my assessment of the month would have been initially correct, it is only this week #2 of April that has bombed lower. The volume is increasing as well so I'd say there is a good probability of lower prices if that volume continues to support more sellers jumping onboard.