Weekly:
- Ichimoku setup is neutral with Price in the Kumo cloud. Price reached a strong trend and horizontal support
- The week has just started, but will be important to see how the candle develops as right now haDelta suggest the weekly bearish momentum could decrease again. haDelta may cross above SMA3 after a really low print few weeks ago.
- Lower support is 304-305, upper resistances are at 315 and 320.
Daily:
- Ichimoku Setup is still rather bearsih on the daily, but it looks like the Key Resistance which we discussed last week holds very well. Price got very far below the Kumo and Kijun Sen, which means a pull back towards equilibrium levels is getting more likely.
- Last week the 309,70 finally blocked the pullback. On a next possible spike that level will still act as bearish support, but with less strength, as the lower (4H) time frame will have no further support by then (pls see dets below)
- HA Candle today has a smaller body within the prev candle's body, but still no upper wick. haDelta is crossing above SMA3 and pls note that haDelta has some bullish divergence with three valid points now. This also increases the chance that the resistance holds further and we may see correction towards 310, or higher.
4H:
- Price back below the Kumo and Kijun Sen, but again ard 305,50 - 306 we see some hesitation. If it ends in a double bottom, then on the next spike we'll see a trend and Kumo break. Anyhow, the decision time is getting closer as the triangle has become extremely tight: upper level to watch is 308,10 and 309, the lower level is obviously at 305.
- Recent candle has a small green body and haDelta is crossing back above SMA3, the cross happens above zero line
- The Kumo is very thin above Price, would be easy to break through
So what is the point here? 304-305 is an extremely important strategic level now! I see somehow more chance for a short term bullish move from here. The risk-reward is not too bad to go long for 312 (maybe 315) tgt, as we can put on a very tight and reasonable stop below 305. Of course if by some reason this 304-305 breaks at any time, that would be a real game changer for HUF, as then a very long lasting uptrend breaks down.
We have to be flexible in our thinking.
- Ichimoku setup is neutral with Price in the Kumo cloud. Price reached a strong trend and horizontal support
- The week has just started, but will be important to see how the candle develops as right now haDelta suggest the weekly bearish momentum could decrease again. haDelta may cross above SMA3 after a really low print few weeks ago.
- Lower support is 304-305, upper resistances are at 315 and 320.
Daily:
- Ichimoku Setup is still rather bearsih on the daily, but it looks like the Key Resistance which we discussed last week holds very well. Price got very far below the Kumo and Kijun Sen, which means a pull back towards equilibrium levels is getting more likely.
- Last week the 309,70 finally blocked the pullback. On a next possible spike that level will still act as bearish support, but with less strength, as the lower (4H) time frame will have no further support by then (pls see dets below)
- HA Candle today has a smaller body within the prev candle's body, but still no upper wick. haDelta is crossing above SMA3 and pls note that haDelta has some bullish divergence with three valid points now. This also increases the chance that the resistance holds further and we may see correction towards 310, or higher.
4H:
- Price back below the Kumo and Kijun Sen, but again ard 305,50 - 306 we see some hesitation. If it ends in a double bottom, then on the next spike we'll see a trend and Kumo break. Anyhow, the decision time is getting closer as the triangle has become extremely tight: upper level to watch is 308,10 and 309, the lower level is obviously at 305.
- Recent candle has a small green body and haDelta is crossing back above SMA3, the cross happens above zero line
- The Kumo is very thin above Price, would be easy to break through
So what is the point here? 304-305 is an extremely important strategic level now! I see somehow more chance for a short term bullish move from here. The risk-reward is not too bad to go long for 312 (maybe 315) tgt, as we can put on a very tight and reasonable stop below 305. Of course if by some reason this 304-305 breaks at any time, that would be a real game changer for HUF, as then a very long lasting uptrend breaks down.
We have to be flexible in our thinking.
