EUSTX50 - Bullish, but chance for short term pull back
Weekly:
Not much to write here, on weekly time frame this index is very bullish
- Price is well above Kumo, Tenkan and Kijun Sen. There can be some pull back at some point, but still Chikou Span will be in open space. Most important note on this chart is the Key Support at 3130. Until Price is above that, it has to be considered as bullish biased
- HA candles are bullish, no sign for a pull back (but pls keep in mind this week has just started)
Daily:
- Ichimoku Setup is bullish, but Price got a bit far from equilibrium and is trading ard the top of the trend channel.
- Today's HA candle will be important on close, as haDelta already suggest the bullish momentum may slow down a bit at this high. haDelta/SMA3 cross with a lower recent high of the indicator (some minor negative bias)
- Supports are: Tenkan Sen = 3390, Kijun Sen = 3232. As Kijun is measured in 26 periods, if you check last 26 candles, you can see that Kijun will pick up to ard 3280 in next few days.
Strongest support is 3190-3200 at the Kumo bottom and trendline
4H:
- Red HA candle together with haDelta and the Oscillator suggest some pull back for today. How deep is a question. There is a support ard 3400 in form of Kijun Sen, trend and Kumo. Meanwhile it looks like a wedge has been building here. Obviously if there were an agreement today with Greece, the Index would break out on the topside. However if negotiations won't lead to solution soon, then the bearish reaction would leed to a very serious move on the downside, as the Kumo is very thin now below the Price, so there is less technical support.
- Level to watch for a counter trend short trade is 3385. Until Price trades above that, it has to be considered only a pull back.
Not much to write here, on weekly time frame this index is very bullish
- Price is well above Kumo, Tenkan and Kijun Sen. There can be some pull back at some point, but still Chikou Span will be in open space. Most important note on this chart is the Key Support at 3130. Until Price is above that, it has to be considered as bullish biased
- HA candles are bullish, no sign for a pull back (but pls keep in mind this week has just started)
Daily:
- Ichimoku Setup is bullish, but Price got a bit far from equilibrium and is trading ard the top of the trend channel.
- Today's HA candle will be important on close, as haDelta already suggest the bullish momentum may slow down a bit at this high. haDelta/SMA3 cross with a lower recent high of the indicator (some minor negative bias)
- Supports are: Tenkan Sen = 3390, Kijun Sen = 3232. As Kijun is measured in 26 periods, if you check last 26 candles, you can see that Kijun will pick up to ard 3280 in next few days.
Strongest support is 3190-3200 at the Kumo bottom and trendline
4H:
- Red HA candle together with haDelta and the Oscillator suggest some pull back for today. How deep is a question. There is a support ard 3400 in form of Kijun Sen, trend and Kumo. Meanwhile it looks like a wedge has been building here. Obviously if there were an agreement today with Greece, the Index would break out on the topside. However if negotiations won't lead to solution soon, then the bearish reaction would leed to a very serious move on the downside, as the Kumo is very thin now below the Price, so there is less technical support.
- Level to watch for a counter trend short trade is 3385. Until Price trades above that, it has to be considered only a pull back.