After making an attempt at a new bullish run the long term breakout failed. After trading below the All Time High of May at 4371 for the second time in a week price has held below that level to confirm as resistance. With a stop above the last All Time High presents a good Risk/Reward short trade.
On the Daily Ichimoku is setting up a countertrend Kijun Sen cross pattern with momentum going weak.
On the Monthly, still yet to close for November, the signs of a failed breakout continue.
On the Daily Ichimoku is setting up a countertrend Kijun Sen cross pattern with momentum going weak.
On the Monthly, still yet to close for November, the signs of a failed breakout continue.
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Twitter: twitter.com/noroktrade
Monthly chart, if the month were to close as of writing, shows a candlestick close false breakout.