Clear, strong bullish divergence is visible on the daily and H4 timeframe, seen in two waves. Price is in extended bearish territory with expanded bearish Kumo Clouds. Trend followers will have to wait for entry until a buy signal appears by the Ichomku, while traders using divergence has a golden opportunity to enter long, scale in or increase periodical...
Bottoms show a resistance (blue, striped line). Red shows a bearish triangle forming. If coming true, target would be around 840-850 around the year 2020/21. Pink show's bearish target. Current uptrend (monthly) shown with Inside Pitchfork (started in beginning of 2009). There is also a chance we continue going up, but remember: What goes up also comes down....
OMXS30 continues to be bullish and are looking to face two resistance levels ahead. First one is at the level of "X" in the pattern, wich is strong nut we Do see some tests just above lining up with the top of the Sharks PRZ. Expected reaction from the Shark is a 38.2% Fib, but often we can see a pullback down to 50% where w, in that case, have a 5-0 pattern...
Lundin Petroleum spiked up today with a nice bullish runway gap, proving there is more to expect. The stock is trading well over both MA50 and MA200. Close to oversold but a first target would be gap close from february 2013 @ 164.