Bullish breakout. Continuation expected, but consolidation first
Value
Weekly:
- Ichimoku bullish setup gets some momentum, as average lines started to point up again, Tenkan and Kijun spike above Kumo cloud.
- Bullish Heikin-Ashi signal from important Ichimoku supports.
- MACD is close to deliver a bullish cross.
- The long monitored Inverse H&S pattern is more likely to get a confirmation, for this price has to break neckline around 50.
Based on weekly chart bullish continuation is very likely, momentum would pick up above 50 to send price towards measured target of 60.
Daily:
- Ichimoku setup turns firm bullish
- Heikin-Ashi signal is bullish, with minor warning of some consolidation or a pull back from 48,50-48,80 first resistance. haDelta turns down from extreme high.
- DO NOT SHORT this market. Good risk reward trade is long from value entry point. A retest closer to 46 shd be monitored closely for a buy signal!
Weekly:
- Ichimoku bullish setup gets some momentum, as average lines started to point up again, Tenkan and Kijun spike above Kumo cloud.
- Bullish Heikin-Ashi signal from important Ichimoku supports.
- MACD is close to deliver a bullish cross.
- The long monitored Inverse H&S pattern is more likely to get a confirmation, for this price has to break neckline around 50.
Based on weekly chart bullish continuation is very likely, momentum would pick up above 50 to send price towards measured target of 60.
Daily:
- Ichimoku setup turns firm bullish
- Heikin-Ashi signal is bullish, with minor warning of some consolidation or a pull back from 48,50-48,80 first resistance. haDelta turns down from extreme high.
- DO NOT SHORT this market. Good risk reward trade is long from value entry point. A retest closer to 46 shd be monitored closely for a buy signal!
