- setup is
- Heikin-Ashi candle is still , but haDelta hit extreme high two days ago. haDelta/SMA3 started to correct lower, while we still saw higher high today. Some negative divergence at 1080 resistance.
- EWO is
- is , but price has moved a lot and bit far above short term equilibrium levels.
- Heikin-Ashi started to show sign of hesitation. haDelta/SMA3 against price action shows serious negative divergence.
- EWO is , but again we have quite a negative divergence building here, as value started to tick lower!
I think market has become stretched short term. Below 1060 profit taking will accelerate.
However as the big picture remains constructive, I recommend to look for buy signals and try to re-enter longs in 1020-1040 .