Bearish consolidation with positive divergences
Daily:
- Heikin-Ashi shows a bearish consolidation pattern.
- haDelta, DMO and EWO show some positive divergence
- MACD fast crossed up above signal line -> consolidation
- Bearish support is at 995 (Kijun)
4H:
- Ichimoku components started to flatten -> loss of strong bearish momentum, consolidation
- Heikin-Ashi is swing bullish now, but price hits Kijun and Kumo. Resistance zone is 939-946. A close above could open space to a swing bullish target area of 975-995.
- There is also some chance for a double bottom pattern.
- EWO is still below zero, but shows some positive divergence.
Strategy:
Reduce shorts, get ready for a swing long.
- Heikin-Ashi shows a bearish consolidation pattern.
- haDelta, DMO and EWO show some positive divergence
- MACD fast crossed up above signal line -> consolidation
- Bearish support is at 995 (Kijun)
4H:
- Ichimoku components started to flatten -> loss of strong bearish momentum, consolidation
- Heikin-Ashi is swing bullish now, but price hits Kijun and Kumo. Resistance zone is 939-946. A close above could open space to a swing bullish target area of 975-995.
- There is also some chance for a double bottom pattern.
- EWO is still below zero, but shows some positive divergence.
Strategy:
Reduce shorts, get ready for a swing long.