The week ahead, and beyond

59 0 0
Way back in January, I posted a bullish (or let's say non-bearish) forecast in "Is it a top?", which I have linked below. It's now time to revisit the same chart and see where we stand. The concept was almost entirely based on weekly momentum which had made a new high. I forecasted that momentum needed to retreat to lows or near lows in order to setup for a divergence in making the ultimate longer term top, which you can see it has done. Now we have one of the two ingredients necessary for weekly momentum divergence. The next will be new weekly price highs. Shorter term, looking at the daily chart , I think we've gone too far, too fast. A few days ago, I posted that I was looking for a retrace to the 204 area (linked below), and that continues to be my bias. So while I am indicating a long bias overall, I'd like to caution that the week ahead could be a bearish week. Those who have been looking to get into the recent uptrend which has had very little in the way of pullbacks, might get a chance soon. If you're not in already, and price continues higher instead of retracing then just enjoy the show, because it's too risky to get in here.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out