weekly chart with bearish close

26 Feb 2018

last week closed well below the 10- and 15-week dema line. we currently sit above the 7 week dema line but expect it to be tested likely in the immediate future. additionally, note that last week's candlestick took on somewhat of a shooting star formation, though not a true shooting star: the difference between open and high was not quite twice the body of the candle, and the lower wick was relatively long. nonetheless, we should look for other bearish confirmation signals in the coming weekly candlestick. if we fail to set a new high this week, expect the downtrend to continue. but as always, the best advisor is yourself, not a n00b like me.