CoFo Lab Market Review: Finding Resistance
Analysis and Forecasts
2023-12-05 15:20:00
Markets probing for a resistance. Many assets already correcting off local highs.
Analysis of CoFo Scout readings
Rapid gains since early-month are hitting resistance now. Some cryptos rolling over into pullbacks.
While seemingly mixed at first glance, short dominance clear when filtering out weekly timeframe longs.
With global tf disregarded for now, growing local/medium-term shorts likely signal expanding correction.
Ideal short entries on strong lower-tf shorts. Longs unfavored on Dec 5 based on Scout — better to await discharge of developing mid/long-term shorts.
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