Candlestick pattern wise, it looks pretty bullish.
Breaking upwards for the week with a small marubozu.
So bullish until further notice, and I would still be wary.
Here is why...
1. Relative Price Monentum (RPM) is crossing downwards (although MACD is crossing up!)
2. Top 8 and Non-commercials Net positions are more bearish than week ago. Almost as if this current bull run is retail driven.
Let's see... bullish, cautiously and until confirmation seen for bear case.
Breaking upwards for the week with a small marubozu.
So bullish until further notice, and I would still be wary.
Here is why...
1. Relative Price Monentum (RPM) is crossing downwards (although MACD is crossing up!)
2. Top 8 and Non-commercials Net positions are more bearish than week ago. Almost as if this current bull run is retail driven.
Let's see... bullish, cautiously and until confirmation seen for bear case.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.