A pause and consolidation is possible around 41,75-42 resistance
As I said few days ago it is bearish. However I can immagine some pause and consolidation around 42. Maybe even some pull back later.
- Chikou Span hits past Kumo bottom, often it means a bearish resistance
- we also have a horizontal supp/res ard 41,75-42,00
- we have some positive divergnece in daily haDelta
Please remember, the resistance has to be treated as a possible resistance. It is not rock solid!
The market structure is bearish:
- Heikin-Ashi candles not yet show any bullish signal, Averages point down, Price below Kumo and Kijun, EWO increasing bearish
- 44 - 44,50 retracement could be sold again!
So if you are heavy short, you may lighten up a bit ard 42, but going long against this selloff is not recommended.
- Chikou Span hits past Kumo bottom, often it means a bearish resistance
- we also have a horizontal supp/res ard 41,75-42,00
- we have some positive divergnece in daily haDelta
Please remember, the resistance has to be treated as a possible resistance. It is not rock solid!
The market structure is bearish:
- Heikin-Ashi candles not yet show any bullish signal, Averages point down, Price below Kumo and Kijun, EWO increasing bearish
- 44 - 44,50 retracement could be sold again!
So if you are heavy short, you may lighten up a bit ard 42, but going long against this selloff is not recommended.
