CoFo Lab Market Watch: Gridlock in Distribution Zone

Analysis and Forecasts
2024-03-25 17:16:07

Market revisits accumulation range as bears refuse to relent, maintaining downside pressures.


Analysis of CoFo Scout Readings


Bulls lacked conviction for a fuller uptrend revival, only managing to drift prices into the distribution zone where forces are now balanced.


Scout continues capturing swelling bear strength. Shorts dominate higher timeframes.


Medium-term, longs still ahead but waning while pockets of short signals emerge.


Intraday vista skewed bearish.


Overall, only global timeframes offer clear Scout slant — fragmentation across other durations.


In such gridlock, prudence dictates awaiting a definitive directional surge — whether before or after range resolution. Positioning based on emerging dominance is better risk management.

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