It is the weekend, you now have a new complete weekly bar to add to the weekly AJM analysis.
Hint - nothing really new actually happened this week, the levels were respected, and the 'potential' accumulation continued within the expected range.
Weekly charts move quite slowly, but are well worth following, especially for longer term holders.
Weekly charts can be very powerful to read as they contain five times more trading -or 'information' - (per bar) than a daily chart.
So effectively a weekly chart, when it (finally) does show a form of strength or weakness, is a very strong indicator.
In particular it is always worth noting the obvious technical levels on the weekly chart, as the support and resistance zone on a weekly chart are effectively five times stronger than on the daily chart.
The weekly SR levels can be quite 'blunt' however, and can be 'sharpened up' a bit by moving back to the daily chart.
Can you see where the range is, of the new potential accumulation zone on the weekly chart ??
Any idea at what level price may change trend and possibly become bullish (again) from the weekly chart ??
and then can you 'sharpen up' that level using the daily chart ??
