My observations on weekly charts for a longterm forecast..!
1-Closing below 52 weeks moving average 6 weeks in a row:
2- lower-High Lower-Low pattern
3-Bearish super-trend for the first time since pandemic
4- breaking below bullish regression channel after 93 weeks:
5- Breaking 22% below the all time high:
6- In 2022, no weekly candle passed above the previous candle’s high..! Exception: last week of January
7- The smallest negative weekly candle -1.71 in 2022 is bigger than the biggest positive +1.66 weekly candle
Do you think any of these observations sounds bullish???
My opinion:
I think none of these observations sounds bullish, however by getting closer to the 3rd week of March (Quadruple Witch) a short covering rally could happen which will be fast and transient ..!
Best,
Dr. Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
2- lower-High Lower-Low pattern
3-Bearish super-trend for the first time since pandemic
4- breaking below bullish regression channel after 93 weeks:
5- Breaking 22% below the all time high:
6- In 2022, no weekly candle passed above the previous candle’s high..! Exception: last week of January
7- The smallest negative weekly candle -1.71 in 2022 is bigger than the biggest positive +1.66 weekly candle
Do you think any of these observations sounds bullish???
My opinion:
I think none of these observations sounds bullish, however by getting closer to the 3rd week of March (Quadruple Witch) a short covering rally could happen which will be fast and transient ..!
Best,
Dr. Moshkelgosha M.D
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
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