Start of consolidation at weekly resistance
Weekly:
- Ichimoku is neutral, with bearish bias. Price is too far below Kijun Sen, should consolidate or retrace a bit.
- Heikin-Ashi signal is bearis, but haDelta shows market has started to lose its momentum at the 1160+ key resistance.
- Momentum loss is not yet visible in MACD histogram and in EWO.
Daily:
- Ichimoku is bearish, with strong support around 1248. Price is quite far below Kijun Sen -> a swing back above 1200 would not be surprising.
- Heikin-Ashi started to signal indecision -> haDelta has been building positive divergence
- EWO is too deep, this wave momentum is not possible to sustain short term. Histogram ticks higher a bit.
There is some chance to see next wave up to 1225 - 1245, but we need more confirmation. Short term key for pull back is 1286 (daily Tenkan Sen)
Idea: reduce shorts if you have. In case you'd like to play swing long, watch 4H time frame for a clear counter trend signal.
- Ichimoku is neutral, with bearish bias. Price is too far below Kijun Sen, should consolidate or retrace a bit.
- Heikin-Ashi signal is bearis, but haDelta shows market has started to lose its momentum at the 1160+ key resistance.
- Momentum loss is not yet visible in MACD histogram and in EWO.
Daily:
- Ichimoku is bearish, with strong support around 1248. Price is quite far below Kijun Sen -> a swing back above 1200 would not be surprising.
- Heikin-Ashi started to signal indecision -> haDelta has been building positive divergence
- EWO is too deep, this wave momentum is not possible to sustain short term. Histogram ticks higher a bit.
There is some chance to see next wave up to 1225 - 1245, but we need more confirmation. Short term key for pull back is 1286 (daily Tenkan Sen)
Idea: reduce shorts if you have. In case you'd like to play swing long, watch 4H time frame for a clear counter trend signal.
