However I mark the bias possibly , mainly because of longer term positive divergences.
- Major trend is still , setup is . Key strategic reversal level is around 525. Closer key is Kijun Sen at 486.
- Heikin-Ashi has shown indecision and consolidation for last 4 weeks! Long wicked candles, haDelta stuck at zero.
- Positive divergences: haDelta has been building it since Aug/2015. We see EWO has also built .
All in all the price ihas been under pressure, but somehow the momentum just can not accelerate again at the decade low.
- setup has been neutral since early March. Equilibrium is 466. Please note that future Kumohas become very thin (very low , which is also reflected in ATR), and possibly about to deliver a twist ( Senkou cross)
- Heikin-Ashi is short term , but with decreasing momentum: haDelta hit local low, and may cross back above its SMA3.
- EWO is neutral.
- Price pattern: In case 455+/- short term horizontal key level holds, and price pops from here, later a Kumo breakout would also mean a confirmation of an pattern. This double signal could have a tgt to 500.
You have to watch Heikin-Ashi signals carefuly here at key levels.
If anything, I am interested in buy only. I don't see short wheat a , but if signlas confirm, I can be comfortable to build and ride 1-2 units long position.