Quick bites - Bearish Monthly wide range outside bar. Weekly extreme wide range gap lower. Friday daily bullish hammer-like candle/bullish harami. Oversold.
High Friday close concocted in the last 30 minutes of trade = artificial?
Whether bullish or bearish the best outcome is that we get a small corrective bounce before extending lower.
Bullish scenario is that we are in a major flat correction C wave that should now evolve via 5 waves lower. This move could extend as far as the December 2018 low circa 2315 before recovering to make new highs in a cycle wave 5 higher. Bearish scenario – is we have completed this bull run and we now start a five-wave move lower as stage one of a new major downtrend.
Either way, the confluence of views is lower in the immediate future.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.