EUSTOXX50 - Wedge retested with no higher high
Daily:
- the broken wedge was retested yesterday and today, but so far price could not make a higher high
- Heikin Ashi candles signal some undecision (not yet bearish), haDelta may cross below SMA3. It can be a sign for diminishing bullish power.
4H:
- Price popped up again after retesting the Kumo.
- DMI and Heikin Ashi signal turns short term bearish again, after Price could not make a higher high
- Ichimoku setup is turning to neutral from bullish
- Watch 3675 as first support (Kijun and 100 WMA)! If Price breaks it, the next bearish Kumo attack can be succesful.
Top consolidation has clearly started. It is too early to decide if it will end in a deeper correction, or keeps moving more sideaway in 3630-3740 range. Maybe we should just trade the range, trying to sell these tops, and in case there is no follow through, close it with few % profit.
- the broken wedge was retested yesterday and today, but so far price could not make a higher high
- Heikin Ashi candles signal some undecision (not yet bearish), haDelta may cross below SMA3. It can be a sign for diminishing bullish power.
4H:
- Price popped up again after retesting the Kumo.
- DMI and Heikin Ashi signal turns short term bearish again, after Price could not make a higher high
- Ichimoku setup is turning to neutral from bullish
- Watch 3675 as first support (Kijun and 100 WMA)! If Price breaks it, the next bearish Kumo attack can be succesful.
Top consolidation has clearly started. It is too early to decide if it will end in a deeper correction, or keeps moving more sideaway in 3630-3740 range. Maybe we should just trade the range, trying to sell these tops, and in case there is no follow through, close it with few % profit.
