QTUMUSD dominated by bears dragging the market lower throughout the day


QTUM/USD Index (QTUMUSD) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
QTUMUSD dominated by bears dragging the market lower throughout the day
QTUMUSD closes lower for the 2nd day in a row
QTUMUSD ends the day on a bearish note closing near the low of the day
QTUMUSD breaks below previous session low
QTUMUSD falls to lowest close since Inception
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, QTUMUSD ended Saturday at 4.57 losing $0.40 (-8.05%). Today's closing price of 4.57 marks the lowest close since Inception. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 4.96, Qtum confirms its breakout through the prior session's low having traded $0.41 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for QTUMUSD
Volatility

Saturday's trading range was $0.46 (9.18%), that's slightly below last trading month's daily average range of $0.48. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being exactly the same as average.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for QTUM/USD Index
Condition Forecast Direction Win Avg Worst Best Events
2 Consecutive Lower Closes TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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