Last week I was wondering if we reached the ind of the ZigZag
. On the weakly time frame price has broken above the Kumo. Looking at the daily chart
the yearly pivot point
has been broken and retested as support. The 55 day Oscillation Frequency (OF) around the Senkou Span B has held since September 2015 but now a break to the upside is indicating that the market could be reacting to the 21 day OF going forward. The Tenkan Sen, Kijun Sen and Kumo on the daily chart
are all long. Further, some volume
is starting to come into the market with the 8sma of volume
rising above the 21 and 55sma.