We get more and more confirmation about a BEAR MARKET here.
Daily: - We had the warning signal two days ago!!! Loss of bullish momentum was obvious from haDelta/SMA3. We got further signal of weakness yesterday in form of a doji HA candle, which means indecision. More bearish 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!
4H - 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 bearish 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!
Comments
Kumowizard
⋅
Well, nothing is expensive. Bullish price action continued. Some of my shorts stopped above Tenkan and Kijun