- Long term trend is still , price got close to (s) support. (positive)
- While the trend is , shows a lot of momentum loss this year. Setup has become absolutely neutral. Price refused Kijun Sen twice (two and three weeks ago), but since the selloff did not bring a lower low, I still assume Price can stay and move within Kumo for a while. Setup would turn only with a close below 152 .
- haDelta hit quite an extreme low last week. Heikin Ashi candle (with a long but inside body) this week already shows some consolidation after heavy selloff from Kijun Sen
- setup is , but Price suffered a too quick and heavy drop, and thus got far below Kijun Sen.
- haDelta hit an extreme low on 2/Nov, but Price still drifted lower. This made some short term positive divergence between candles and haDelta. Market shoul be cleared by now, weak hands are out.
Heikin Ashi signals a possible end to this wave: candle + haDelta drifts higher.
A pull back to 165 +/- area is possible. Stop at 152 or 153 (depending on your money management strategy)
Please note that Price is Quoted in NOK! NOK is extremely cheap among G10, and may catch up in move ag EUR soon. (Small positive FX effect if you enter long Telenor)