It's "expensive", but no reason to be bearish. Maybe wise to TP
This setup is light-years far from a bearish setup. Actually if you check the Monthly chart as well, it is even more obvious.
No reason to short this market in big. The only wise thing is to reduce longs, or take some cover, as momentum indicators suggest it may start some consolidation and/or a minor pull back in coming days/weeks.
Weekly:
- Everything is healthly bullish, only haDelta and haOscillator started to point down, which so far tells us momentum may slow down.
- Key supports: 2440 (Kijun Sen). 2335-2350 (shorter trendline support). 2292-2310 Senkou B and 100 wma zone (long term averages). Appr. 2175 -> Monthly Kijun Sen (26 months avg) + Major primer trendline since Marc/2009.
Daily:
- Bullish Ichimoku
- Bullish Heikin-Ashi, with early signals of possible consolidation (either sideaway, or minor pull back.) -> See candle body, haDelta+ and haOscillator
- Bullish support zone is 2485-2499.
No reason to short this market in big. The only wise thing is to reduce longs, or take some cover, as momentum indicators suggest it may start some consolidation and/or a minor pull back in coming days/weeks.
Weekly:
- Everything is healthly bullish, only haDelta and haOscillator started to point down, which so far tells us momentum may slow down.
- Key supports: 2440 (Kijun Sen). 2335-2350 (shorter trendline support). 2292-2310 Senkou B and 100 wma zone (long term averages). Appr. 2175 -> Monthly Kijun Sen (26 months avg) + Major primer trendline since Marc/2009.
Daily:
- Bullish Ichimoku
- Bullish Heikin-Ashi, with early signals of possible consolidation (either sideaway, or minor pull back.) -> See candle body, haDelta+ and haOscillator
- Bullish support zone is 2485-2499.