If we don't break the resistence that is right now around 9300 i expect a small jump that won't last long.
If we break the resistence we're going down, i expect an impulsive correction that goes to 5500 - 5400 and a retrace that will touch the resistence line that goes thorough all the major high's.
Reasons:
- Every time we touch that line something bad happens. ( oh well )
- The retest of the drop in February before going up was missing so a retrace now seems the most logical thing to expect
- Shorts are increasing, closing longs.
- Fud news are "helping" reaching that point
- The starting impulse has a really high volume
- Chikou Span crossed the Kijun-Sen again (not in chart)
. The height of the triangle touches that support ( 5500 )
I drew the last resistence ( 3000 ) as a plan B that should be the final target of this downtrend but for now it's just speculation...
If we break the resistence we're going down, i expect an impulsive correction that goes to 5500 - 5400 and a retrace that will touch the resistence line that goes thorough all the major high's.
Reasons:
- Every time we touch that line something bad happens. ( oh well )
- The retest of the drop in February before going up was missing so a retrace now seems the most logical thing to expect
- Shorts are increasing, closing longs.
- Fud news are "helping" reaching that point
- The starting impulse has a really high volume
- Chikou Span crossed the Kijun-Sen again (not in chart)
. The height of the triangle touches that support ( 5500 )
I drew the last resistence ( 3000 ) as a plan B that should be the final target of this downtrend but for now it's just speculation...
Comment:
The jump was pretty impressive but volume is decreasing and feels like a large scale trap, just to get the confidence of passing the daily macd line touch 0.618 and sell off, we'll see how it plays out
Comment:
Whoa nice jump ! My idea now is invalid need to reevaluate.
Might be a double bottom but to make it so we would have to reach and break 11.7 and we're too early for that.
If in the next days we break the bear trendline and hold it we might reach first 9 and then 9.5.I belive longs will have a last chance to close before the final test.
Might be a double bottom but to make it so we would have to reach and break 11.7 and we're too early for that.
If in the next days we break the bear trendline and hold it we might reach first 9 and then 9.5.I belive longs will have a last chance to close before the final test.