We made this analysis using different perspectives and different time frames.
The results are promising and we can be very close to starting a new bull run.
Here are the technical analysis details:
•Ichimoku Cloud - On the 1D chart, for the first time since the beginning of 2018, the price chart maintains over the cloud.
Additionally, the price is over Tenkansen(red) which crossed up Kijunsen (blue).
Senaku span A (faster) crosses Senkau span B (slower).
•Moving averages – 1W chart - for the first time since the beginning of the correction, we have a new bar starting above MA20 which is believed to be a borderline of a and .
•WBM BUY/SELL Indicator - 1M chart - This is a hyper-low level.
This is the lowest level in history.
We were very low in May 2015 where the bear market was finished.
These are really good news but remember we have to be patient.
Reversal of such a long trade doesn’t happen overnight.
For sure there will be some minor ups and downs but if you stay cool and will manage to persist you will be rewarded as it was in 2016 and 2017.
Let us know what you think about this.
Drop us a line in the comment section.
Thank you for your time and reading.
Have a great weekend.