Weekly:
- Ichimoku setup turning more neutral, Chikou Span gets close to hit past candles (26 weeks ago). Price could not break back below Kijun Sen (26 weeks average) and Tenkan/Kijun is still in same weka bullish position.
- After Price initially moved to the South, finally it could not make a lower low. This week Heikin Ashi turns bullish-like again, but the week has just started. Price is still trading in a very tight range just around the 26 weeks average
- Watch Tenkan Sen as next supp/res at 1,1130. A close above that could send Price closer to 1,15
Daily:
- Neutral Ichimoku setup with a relatively thin Kumo cloud above price. Supp/res levcels: 1,1013 (Kijun Sen), 1,1059 (100 WMA), and most importantly 1,1130 at Kumo, which would also mean a bullish break of the triangle.
- Heikin Ashi has turned bullish again, but Price is stuck in triangle, which has become extremely tight. If this triangle breaks on the upper side, tgt will be 1,1430-1,1500 area, up to the major downtrend line.
It is still not an easy call here, with a lot of question marks, but the whole picture and Price action I think shows slightly higher probability of a bullish wave to continue. Anyway, the reversal point and break level is ard 1,1120. Stop buy orders can accelerate above that.
p.s.: I am long outright and through October 1,1400 Calls.
- Ichimoku setup turning more neutral, Chikou Span gets close to hit past candles (26 weeks ago). Price could not break back below Kijun Sen (26 weeks average) and Tenkan/Kijun is still in same weka bullish position.
- After Price initially moved to the South, finally it could not make a lower low. This week Heikin Ashi turns bullish-like again, but the week has just started. Price is still trading in a very tight range just around the 26 weeks average
- Watch Tenkan Sen as next supp/res at 1,1130. A close above that could send Price closer to 1,15
Daily:
- Neutral Ichimoku setup with a relatively thin Kumo cloud above price. Supp/res levcels: 1,1013 (Kijun Sen), 1,1059 (100 WMA), and most importantly 1,1130 at Kumo, which would also mean a bullish break of the triangle.
- Heikin Ashi has turned bullish again, but Price is stuck in triangle, which has become extremely tight. If this triangle breaks on the upper side, tgt will be 1,1430-1,1500 area, up to the major downtrend line.
It is still not an easy call here, with a lot of question marks, but the whole picture and Price action I think shows slightly higher probability of a bullish wave to continue. Anyway, the reversal point and break level is ard 1,1120. Stop buy orders can accelerate above that.
p.s.: I am long outright and through October 1,1400 Calls.
