Predicting Market Behavior…Blindfolded! (Part 4)
03/05/2009 12:01 am EST
Price had no trouble breaking below the blue, up-sloping lower Median Line. In fact, every rally seems to be met with fresh sellers. Thirty bars later, price has broken below the prior major swing low and shows no sign of climbing back above it.
What is the probable path of price? Is price more likely to head higher or lower?
Price accelerates to the down side. This is a very weak market.
What is the probable path of price going forward?
Have you guessed what market I am charting for you yet? Find out tomorrow in Part 5!