CapMoore

Pitchfork and Kumocloud In Play with Bearish Bias

FX:US30   Index of top 30 shares on Wall Street
45 0 0
Price is trading within a Pitchfork channel with resistance
from the Kumocloud. The sharp move up today was firmly
rejected just as in the beginning of the Pitchfork . Price is
behaving as it wants to continue down and has closed below
the Kijun line again (White line). Chances are price will make
a new attempt to breach the Monthly S2 that gave todays
bounce. If price breach the upper Pitchfork band and the
Kumocloud, current wave down may be over or correcting.
Daily support by Kumo Cloud stands close below at 17000-17050
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