The forecast for week 2 of May 2022 is a higher probability of Bear
This assessment in no way considered financial advice.
This week produced a Bear candle as forecasted. The candle was of a similar size to last week. The angle has now increased to extreme and this will progressively increase the probability of a quiet period. The weekly chart is now on approach to a support price of around 1.207. It is probable it can reach this the week, The OBV is also trending down. The volume is dropping but this is expected as the bear candles wind toward an end.
This assessment in no way considered financial advice.
This week produced a Bear candle as forecasted. The candle was of a similar size to last week. The angle has now increased to extreme and this will progressively increase the probability of a quiet period. The weekly chart is now on approach to a support price of around 1.207. It is probable it can reach this the week, The OBV is also trending down. The volume is dropping but this is expected as the bear candles wind toward an end.