If Bulls can hold 3000 key, market can target 3200+
- Ichimoku setup is neutral: Price is in a thin cloud, all longer averages ard same level 3000+. This is the equilibrium price.
- Heikin-Ashi candle yesterday had a slightly higher low. Could not break back below Kijun Sen and spot Kumo cloud. Today candle and haDelta indicates indecision, and maybe a bullish reversal ahead!
- In case Heikin-Ashi gives a firm bullish signal, then market can target 3200 again. This would mean complete invalidation of the possible bearish Head and Shoulders pattern.
- EWO is still slightly above zero.
Weekly:
Full of questions:
- Are we gonna have a weak bullish Tenkan/Kijun cross here?selling interest there.
- Price is stuck exactly at Tenkan and Kijun. What about Heikin-Ashi momentum? How will the candle look like at the end of this week?
- haDelta/SMA3 crosses down, but still above zero line. What about momentum?
- 3200 is a ston bearish support, and probably market will face serious
My short term bias is less bearish now. Still hard to decide wether it is an early signal for next leg up, or just hesitation before a break down and H&S pattern validation. Interesting days ahead.
We can not exclude the possibility of a rally towards 3200. But as you see on weekly chart, that could well be a strong supp/res area, and a level to look for short entry again.
- Heikin-Ashi candle yesterday had a slightly higher low. Could not break back below Kijun Sen and spot Kumo cloud. Today candle and haDelta indicates indecision, and maybe a bullish reversal ahead!
- In case Heikin-Ashi gives a firm bullish signal, then market can target 3200 again. This would mean complete invalidation of the possible bearish Head and Shoulders pattern.
- EWO is still slightly above zero.
Weekly:
Full of questions:
- Are we gonna have a weak bullish Tenkan/Kijun cross here?selling interest there.
- Price is stuck exactly at Tenkan and Kijun. What about Heikin-Ashi momentum? How will the candle look like at the end of this week?
- haDelta/SMA3 crosses down, but still above zero line. What about momentum?
- 3200 is a ston bearish support, and probably market will face serious
My short term bias is less bearish now. Still hard to decide wether it is an early signal for next leg up, or just hesitation before a break down and H&S pattern validation. Interesting days ahead.
We can not exclude the possibility of a rally towards 3200. But as you see on weekly chart, that could well be a strong supp/res area, and a level to look for short entry again.