Some possible bearish indication, and the levels below the cloud
Daily:
- Ichimoku is still neutral. Upper key level is Kijun Sen at 5869, which was tested during last two days. First lower key level is 5770, below this bearish momentum could accelerate.
- Heikin-Ashi candle so far shows indecision today. Initial attempt to test and climb back above 5869 Kijun Sen failed, and now mkt is tilt to downside. For major bearish price action and to size up shorts we need a confirming signal by Heikin-Ashi quantification indicators.
- MACD and EWO are neutral, maybe minor bearish, but not yet convincing.
All together, we have to focus at 5770-5800 range. Below that short the hell out of this index, as space opens towards long term Fibonacci retracement levels, which now match perfectly previous key highs and lows, and Ichimoku lines too. This Fibo was calculated from the 28/June/2016 low, so covers more than a year period.
If space opens to the downside, targets will be 5570 and 5300.
4H:
- Ichimoku is neutral: price is between Tenkan and Kijun, shaded by the Kumo ahead
- Heikin-Ashi shows indecision, but has some initial bearish bias by haDelta and haOscillator. A close below Kijun (5813) could accelerate selling.
For any shorts, initial stops should be placed at 5905. Trade your size accordingly, taking into consideration the recently increased volatility of the market!
Good luck!
- Ichimoku is still neutral. Upper key level is Kijun Sen at 5869, which was tested during last two days. First lower key level is 5770, below this bearish momentum could accelerate.
- Heikin-Ashi candle so far shows indecision today. Initial attempt to test and climb back above 5869 Kijun Sen failed, and now mkt is tilt to downside. For major bearish price action and to size up shorts we need a confirming signal by Heikin-Ashi quantification indicators.
- MACD and EWO are neutral, maybe minor bearish, but not yet convincing.
All together, we have to focus at 5770-5800 range. Below that short the hell out of this index, as space opens towards long term Fibonacci retracement levels, which now match perfectly previous key highs and lows, and Ichimoku lines too. This Fibo was calculated from the 28/June/2016 low, so covers more than a year period.
If space opens to the downside, targets will be 5570 and 5300.
4H:
- Ichimoku is neutral: price is between Tenkan and Kijun, shaded by the Kumo ahead
- Heikin-Ashi shows indecision, but has some initial bearish bias by haDelta and haOscillator. A close below Kijun (5813) could accelerate selling.
For any shorts, initial stops should be placed at 5905. Trade your size accordingly, taking into consideration the recently increased volatility of the market!
Good luck!
