Bulls may try to keep it float, but it will be hard to hold
Daily:
- as I said few days ago, I doubt there is much more juice to squeeze here. -> pls see link below
- Price reached top of wide channel, even penetrated for few days, but finally did not make a higher high above November/2015 peak.
- Heikin-Ashi gave a warning signal in last two days for a possible top. haDelta has built massive negatove divergence
- EWO also built massive negative divergence.
- Ichimoku setup is still bullish, but Kijun moved up quite close to price. In case Price closes below Kijun, that will trigger more stop selling.
- Supports higher now: 2000 / 2065 / 2080
4H:
- Serious deterioration here: weak bearish Tenkan/Kijun cross. Price trades below Kijun Sen. Thick Kumo shades price ahead.
- EWO down to neutral/bearish
- Heikin-Ashi signal is bearish
- Price just reached first key support ard 2080. A break below 2080 will accelerate selling, and below 2070 more stops would be triggered.
Of course Bulls will stick to their positions as usual, they will deny, try everything to keep it above short term supports. Probably lower they will even buy more! But you see there is some serious internal divergence in this market, while Nasdaq, the previous leader already turned counter bearish!
I am 1 unit short. Will add more if I see a sustained break below 2080.
- as I said few days ago, I doubt there is much more juice to squeeze here. -> pls see link below
- Price reached top of wide channel, even penetrated for few days, but finally did not make a higher high above November/2015 peak.
- Heikin-Ashi gave a warning signal in last two days for a possible top. haDelta has built massive negatove divergence
- EWO also built massive negative divergence.
- Ichimoku setup is still bullish, but Kijun moved up quite close to price. In case Price closes below Kijun, that will trigger more stop selling.
- Supports higher now: 2000 / 2065 / 2080
4H:
- Serious deterioration here: weak bearish Tenkan/Kijun cross. Price trades below Kijun Sen. Thick Kumo shades price ahead.
- EWO down to neutral/bearish
- Heikin-Ashi signal is bearish
- Price just reached first key support ard 2080. A break below 2080 will accelerate selling, and below 2070 more stops would be triggered.
Of course Bulls will stick to their positions as usual, they will deny, try everything to keep it above short term supports. Probably lower they will even buy more! But you see there is some serious internal divergence in this market, while Nasdaq, the previous leader already turned counter bearish!
I am 1 unit short. Will add more if I see a sustained break below 2080.
