VEN starting to get resistance from past price action. All 4 Signals are BULLISH and we just started getting the Bullish sentiment in the future after the Kumo Twist. This dip in the last two candles is healthy and should help us move through the resistance.
RSI is cooling off and has been going down while the price continues to go up. Likely to become oversold and help give us the push through the resistance.
If price action does continue to break down it is unlikely that it goes below the support from the chikou span valleys or the Tenkan-sen line.
If it continued further RSI would be severly oversold and more support at the Kijun-sen.
A Kijun Bounce signals a 50% retracement and is a bullish signal basically saying the MM's who took profit at the top see this as the perfect opportunity to stop people out and buy back in.
RSI is cooling off and has been going down while the price continues to go up. Likely to become oversold and help give us the push through the resistance.
If price action does continue to break down it is unlikely that it goes below the support from the chikou span valleys or the Tenkan-sen line.
If it continued further RSI would be severly oversold and more support at the Kijun-sen.
A Kijun Bounce signals a 50% retracement and is a bullish signal basically saying the MM's who took profit at the top see this as the perfect opportunity to stop people out and buy back in.