Picture is not bullish any more, but short term supp/res reached
Daily:
- Ichimoku setup is neutral, with bearish bias
- Massive breakdown below Kijun, then below 100WMA. Bullish chances are completely lost.
- EWO turns slightly bearish.
- Price reached 1215-1220 strong support resistance, where as you see market got a bit oversold short term. haDelta has reached an extreme low. Bears have to be careful here. We may see some consolidation or a pull back towards 1235-1240. There I'd get out of any longs, and maybe would even try to catch next sell signal.
- Next stronger supp/res level is ard 1175+, which is also important bullish support on the weekly chart (not shown here this time)
4H:
- Bearish Ichimoku setup.
- Heikin-Ashi is bearish, but we can see some positive divergence in haDelta --> mkt is very oversold short term.
- EWO is strong bearish. Maybe a bit too low --> correction is possible.
Conclusion for now: be patient!
- Ichimoku setup is neutral, with bearish bias
- Massive breakdown below Kijun, then below 100WMA. Bullish chances are completely lost.
- EWO turns slightly bearish.
- Price reached 1215-1220 strong support resistance, where as you see market got a bit oversold short term. haDelta has reached an extreme low. Bears have to be careful here. We may see some consolidation or a pull back towards 1235-1240. There I'd get out of any longs, and maybe would even try to catch next sell signal.
- Next stronger supp/res level is ard 1175+, which is also important bullish support on the weekly chart (not shown here this time)
4H:
- Bearish Ichimoku setup.
- Heikin-Ashi is bearish, but we can see some positive divergence in haDelta --> mkt is very oversold short term.
- EWO is strong bearish. Maybe a bit too low --> correction is possible.
Conclusion for now: be patient!