Bearish continuation with lower highs from relief rallies, whales selling with retail buying.
Slow play sell-off continued with MACD, OBV, & rejection below 200 EMA send strong signal.
Macroeconomic factors with Dollar continuing to gain in value, highest point since June 2020 & continuing upwards while inflation is spiraling beyond actions that the current Federal Reserve regime is willing/able to do. Oil now peaking to levels that were realized before the 2008 crash.
Overall, bearish sentiment appears to be firmly in place.
Continue to watch the markets for signals that would indicate reversal is on the horizon but that is not apparent right now.
Slow play sell-off continued with MACD, OBV, & rejection below 200 EMA send strong signal.
Macroeconomic factors with Dollar continuing to gain in value, highest point since June 2020 & continuing upwards while inflation is spiraling beyond actions that the current Federal Reserve regime is willing/able to do. Oil now peaking to levels that were realized before the 2008 crash.
Overall, bearish sentiment appears to be firmly in place.
Continue to watch the markets for signals that would indicate reversal is on the horizon but that is not apparent right now.
