- We had the warning signal two days ago!!! Loss of momentum was obvious from haDelta/SMA3. We got further signal of weakness yesterday in form of a HA candle, which means indecision. More confirmation today, as candle switched to red. Last three days price action shows sellers started distribution again at key supp/res (Kumo)
- EWO seems to turn lower again.
- Tenkan is still below Kijun. Selling would accelerate below these average lines (4340 and 4360)
- If we see a massive sell wave, that can possibly send price down to 4100-4150 zone!
- Last two HA candles show Bulls are very weak and happy to offload longs.
- haDelta/SMA3 confirms weakness as stuck below zero
- EWO down to zero.
- Tenkan/Kijun got close to a weak cross.
- Supports: 4375 (100wma) and 4340 (Senkou B)
- Of course we can not exclude a spike either, but I think spikes will be sold again.
Please read again my previous posts too, especially the "Long term Diamond Top" idea!