My observations on weekly charts for a longterm forecast..!

٢٥ فبراير ٢٠٢٢

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

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