Last weekend's analysis expected a bearish week to follow but it turned out quite the opposite.
Instead a candlestick sandwich was formed with a larger bullish candle, breaking out of the resistance level.
While this may appear bullish, MACD crossed down with gusto, and Relative Price Momentum is down despite a large up candle. Volume divergence is also apparent since August 2020 (third from bottom panel)
Ominously, both the Net Non-commercial and Net Top 8 Trader Interests have bearish divergences, as well as a clear reduction in holdings despite a huge up week.
IMHO, too many signals telling... Still maintain that there is an underlying pullback, else a massive melt-up. The former being favoured at this point.
Instead a candlestick sandwich was formed with a larger bullish candle, breaking out of the resistance level.
While this may appear bullish, MACD crossed down with gusto, and Relative Price Momentum is down despite a large up candle. Volume divergence is also apparent since August 2020 (third from bottom panel)
Ominously, both the Net Non-commercial and Net Top 8 Trader Interests have bearish divergences, as well as a clear reduction in holdings despite a huge up week.
IMHO, too many signals telling... Still maintain that there is an underlying pullback, else a massive melt-up. The former being favoured at this point.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.