Poised for Action, 1 Mar 2023

2023년 2월 28일🖼 Daily Technical Picture 📈

➤ February is done and dusted. Tuesday trade ended down after a late sell-off. The second consecutive down day. Although prices have moved laterally for past few days, the behaviour shows Bears taking control. Previously, we saw buying support to close out the day, this has now reversed.

➤ I think price is poised to stride lower very soon. I'd like to see VIX rebound higher in concert with a price drop to bring a higher level of confidence that the drop will stick. In fact, VIX has been stuck in the low 20s for a while. I need to see this spike much higher.

➤ Conclusion: February was favourable although there was little trading action. On to March we march.