The forecast hybrid week May/June: Bull for the weekly chart and neutral for the daily chart.
This assessment in no way considered financial advice.
This week a Bull candle formed that did not protrude last week's high, although it did finish with no tail on the top, this indicates the move still has buying possibilities for the following week. The volume was lower than last week but still a good size. The OBV is trending upward, another piece of backing evidence.
The daily chart tells a sideways story vs a retracement story. It has also hit or is very close to the trending resistance line. Also note, most of the highs are the same, for many of the last 10 days. This is another resistance line. There are now a number of possibilities for the daily chart and evidence to suggest each of their moves. Meaning a neutral call must be made for this daily chart.
This assessment in no way considered financial advice.
This week a Bull candle formed that did not protrude last week's high, although it did finish with no tail on the top, this indicates the move still has buying possibilities for the following week. The volume was lower than last week but still a good size. The OBV is trending upward, another piece of backing evidence.
The daily chart tells a sideways story vs a retracement story. It has also hit or is very close to the trending resistance line. Also note, most of the highs are the same, for many of the last 10 days. This is another resistance line. There are now a number of possibilities for the daily chart and evidence to suggest each of their moves. Meaning a neutral call must be made for this daily chart.