No doubt, Stoxx50 indx still behaves bullish. All indicators are OK on the 4 Hrs chart: DMI+, trades above Kumo and Kijun, Tenkan above Kijun, Chikou is above px and has some open space ahead, Kumo is far away from px and future Kumo is pointing up. What's more, the daily chart looks supportive too. Maybe it is short term overbought, so pull back can happen to 3120 (+/-) support zone, but until that holds and px pops up from there again, Bulls who bought earlier are safe. So basically 3100 - 3120 is the critical zone to watch for both Bulls and Bears. We need to see if it gets serious bullish momentum again, or gives same prints as in January. We can only think about reversal, if it starts some sideaway move first. Ichimoku elements are usually quite dinamic, so watch them closely, as they can often call attention for deterioration of previous behaviour in quite early stage... but as I said so far everything is so good, no need for re-position yet.
(p.s.: still no clue what is the value in the Bund here... why is it so high? pls check:
)
(p.s.: still no clue what is the value in the Bund here... why is it so high? pls check:
