Daily: DMI and Slow Stoch gave sell signals, and soon will MACD too. This is quite a strong indication for a corrective move. In terms of Ichimoku the long term setup is still bulish, but the flat Kijun Sen will likely attract Price again, so a correction is more likely down to 2020-2030 support.
4 Hrs: After the weak Tenkan/Kijun sell signal Price dips into the Kumo. Chikou Span gave a weak bearish sell signal as well (crossed down Price candles but did it above the Kumo). DMI turned bearish with increasing ADX.
Due to previously increased volatility the current Kumo is thick, but as you see the future Senkou lines already tightenned back (vol decreased end of Dec), so we have to consider the 100 WMA and the future Senkou B, both staying at 2063 as most important short term support. Next support is 2053. I think 2053 will be difficult to break first, and we may see some pop up and choppy trading within the Cloud before bearish extension. Anyway, the spikes I would use for looking to open more shorts.
4 Hrs: After the weak Tenkan/Kijun sell signal Price dips into the Kumo. Chikou Span gave a weak bearish sell signal as well (crossed down Price candles but did it above the Kumo). DMI turned bearish with increasing ADX.
Due to previously increased volatility the current Kumo is thick, but as you see the future Senkou lines already tightenned back (vol decreased end of Dec), so we have to consider the 100 WMA and the future Senkou B, both staying at 2063 as most important short term support. Next support is 2053. I think 2053 will be difficult to break first, and we may see some pop up and choppy trading within the Cloud before bearish extension. Anyway, the spikes I would use for looking to open more shorts.
