Ain't bullish... turns down from Kumo. 3100-3150 retest?

FX:EUSTX50   Euro Stoxx 50 index of European listed shares
71 1 2
Eurostoxx50 had a decent counter trend / bear mkt rally (short squeeze?), but picture here is a lot different than in SP500             . Actually this index is still very weak!
Please see my SPX             and my previous long term STOXX50 posts!

- Ichimoku setup is neutral, with a thick Kumo ahead of price, and with Chikou Span at past candles. Market has had a high level of volatility recently, this will not change in short term.
- Heikin Ashi possible top signal yesterday, confirmed by bearish signal today. Price started to decline again after testing Kumo ( bearish support).
- Lower supp/res area is 3100-3150, this will likely be retested.
- Will it make a short term inverse Head and Shoulders patter there later and spike again, or will it break down and target 3000, this is uncertain and would be very subjective to forcast now!

- Bullish technical picture and momentum is deteriorating. Ichimoku losing bullish bias.
- Heikin Ashi is increasing bearish , with a lower low today
- Possible supp/res levels 3190 / 3150 / 3122
IvanLabrie PRO
a year ago
Looks done. Good one.
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