CoFo Lab Market Watch: On the Verge of Correction?
Analysis and Forecasts
2023-12-22 15:08:00
Markets keep rising but shorts building ahead of weekend per Scout. Holding positions inadvisable currently.
Analysis of CoFo Scout Readings
While rally persists, growing shorts indicate pullback risk any time.
Longs remain steady on weekly view. But D1 & D3 shorts gaining traction.
Elsewhere mixed, but with bear signals rising & bulls fading.
Without sufficient multi-timeframe short strength yet, impulse uptrend intact for now.
Awaiting both stronger cross level shorts before ideal trend continuation entries would be prudent. Longs need a clearer local long dominance
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