Overextended Market

Short term View:
The market made a nice move to the upside. While our forecasted breakout was supported by volume increase, the last two weeks overextended the markets with lower volume , the RSI is closing on overbought levels and the ATR is at low volatility , We expect the next week or two to be challenging with correction in mind, maybe a retest of the 303 levels.

Reduce risk and wait for another opportunity to enter as we forecast that this up leg is not over just yet.

Trade safely,
Alon

Overextended Market (AlphaOverBeta market outlook) by Alon_AOB on TradingView.com

Related Posts

Leave A Reply