It looks as if we've reached the same scenerio as we did last July, where bear market is looming and reversal seems improbable according to the moving average. Looking back at the last cycle, we can see there was less consolidation with a deeper bounce and faster moving bounce. If consolidation continues and the wedge is broken to the upside, likely we will be in a period of extended consolidation as the moving average could negate breaking downtrend high's.
So buckle up and relax. We could be in for a wild, or extremely slow ride.
Feel free to let me know your trend prediction in a reply below. :)
So buckle up and relax. We could be in for a wild, or extremely slow ride.
Feel free to let me know your trend prediction in a reply below. :)