Next step for buyers is follow-through

2022년 3월 9일

Yesterday we discussed the need for sellers to be cautious because the price action pattern was potentially bullish. On Wednesday buyers indeed retraced the previous day's range. It is hard to imagine that this could be a long-term double bottom in light of the fact that Ukrainian situation rages on and is not resolved. The next 2 to 5 days will be critical in the assessment of the ability of buyers to follow through on Wednesdays price action. How we react over this time period could provide clues for longer-term trend movement.