Kumowizard

EUSTX50 - 4H support higher, sell only break of bearish wedge

FX:EUSTX50   Euro Stoxx 50 index of European listed shares
42 0 1
Daily:
- Ichimoku setup is long term bullish , but Price is far above equilibrium levels (Kijun Sen and Senkou B)
- Price has been trading in a short term flag, stuck at flag top. First support is Tenkan Sen at 3398.
- HA candles are more bullish , but in every third day some undecision comes to the mkt, forming doji-like candles with both upper and lower wicks
- The Oscillator is bullish , but haDelta shows some negative divergence. Is it a sign of a short term decreasing bullish momentum?

4H:
- Is it a bearish wedge forming? We will only know if it breaks on the lower side.
- Ichimoku setup is bullish still, with Kumo and 100 WMA support up to 3395-3400 now.
- Recent HA candles show some undecision, haDelta moving lower below zero line.

All in all I think Bulls are slowly getting a bit exhausted. The ultimate question is what happens at 3400 if Price puls back there again. Will the wedge, 100 WMA and the Kumo break? If that happens, then finally we could see some deeper correction.

For now just set an alert to 3398. We'll check Price action when we get there.
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