Bearish Engulfing Weekly is a strong SELL-signal ....!

7 Eyl

NVDA

Two weeks ago a Bearish Engulfing occured at Nvidia - This is a very strong signal as according to the Candle Expert Bulkovski points in 79% of occurences to much lower prices. Bearish Engulfing are also one of the most reliable candle formations! And the Red Candle was much bigger than the green. This weeks again red big down candle proofed just this (!)

Together with Elliotwave 5 waves up to 140 past June, I think we are in the middle of an ABC correction which points to around 80..... ! At mom we are in C-Wave which very often has similar length as A, which points again to 80!

And volumes are still not high enough to see a bottom in Selling ..........!

tradingview.com/chart/vhzvFnXM/

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