MJ ETF seems to break its first steep and quite long term downtrend line.
- Ichimoku stup is neutral with bullish bias as forward Kumo has already crossed up, Price is above Kijun and cloud.
- EWO (AO) is positive
- It should make a higher high above 14 (which is weekly Kijun Sen level) to give a confirmation and increase odds for a sustained bullish move towards the more serious 21,50-23,50 resistance zone. A close above 14 would also push Chikou Span (lagging line) into open space, above past cloud components.
For now a moderate bullish position is recommended, Size up only above 14.
- Ichimoku stup is neutral with bullish bias as forward Kumo has already crossed up, Price is above Kijun and cloud.
- EWO (AO) is positive
- It should make a higher high above 14 (which is weekly Kijun Sen level) to give a confirmation and increase odds for a sustained bullish move towards the more serious 21,50-23,50 resistance zone. A close above 14 would also push Chikou Span (lagging line) into open space, above past cloud components.
For now a moderate bullish position is recommended, Size up only above 14.