Dow makes a bearish Shooting Star on Weekly
Candlestick Charts
Dow has
made a bearish candle – Shooting Star – on weekly candlestick charts in the
week gone by. Though a confirmation is required on the weekly candlestick
charts in this week to confirm bearishness of Dow, there are adequate technical
indicators already in place to indicate bearishness of Dow. Bullishness of Dow
particularly in the last month or so could be attributed mainly to short
covering. Now that Fed has given indication of interest rate hikes (two or
three does not make a difference), US stock indices can be expected to drift
lower from here, for times to come.
Here are
two charts which can give the readers some food for thought.
I also recommend
the readers to have a glance at my previously authored posts:
1.
Year
2015 – End of Era – The fading away of USA and USD
2.
Donal
Trump May Prove To Be Right
3.
Ace
TRUMP and Being MODI fied
Best
wishes for the festive season.
The
author can be contacted at: riskadvisory@outlook.com.
DISCLAIMER:
These
extracts from my trading books are for educational purposes only. Any advice
contained therein is provided for the general information of readers and does
not have regard to any particular person's investment objectives, financial
situation or needs and must not be construed as advice to buy, hold and sell or
otherwise deal in any kind of commodities, currencies, securities or other
investments. Accordingly, no reader should act on the basis of any information
contained therein without first having consulted a suitably qualified financial
advisor.
