Early signals for a possible local top and consolidation
Daily:
- Ichimoku is strong bullish, but price got very far above equilibrium level of 106,25. This pace is not possible to sustain, especially at a strong key resistance at/above 111 (-> also a weekly bearish support!)
- Heikin-Ashi has started to signal a possible local top: candle body shrinks, haDelta is ticking lower.
- MACD histogram also lower, suggests a consolidation ahead.
- EWO is strong bullish, but it can also peak and retrace from this extreme high value of 4,24.
4H:
- Ichimoku is bullish, but
- haDelta and DM_Oscillator are stuck at zero -> early signal of losing strong bullish momentum.
- Oscillator and EWO shows some negative divergence already.
Take profit on longs and get ready for a swing short!
- Ichimoku is strong bullish, but price got very far above equilibrium level of 106,25. This pace is not possible to sustain, especially at a strong key resistance at/above 111 (-> also a weekly bearish support!)
- Heikin-Ashi has started to signal a possible local top: candle body shrinks, haDelta is ticking lower.
- MACD histogram also lower, suggests a consolidation ahead.
- EWO is strong bullish, but it can also peak and retrace from this extreme high value of 4,24.
4H:
- Ichimoku is bullish, but
- haDelta and DM_Oscillator are stuck at zero -> early signal of losing strong bullish momentum.
- Oscillator and EWO shows some negative divergence already.
Take profit on longs and get ready for a swing short!