Waves, divergence, higher low, A-B-C ?
For those who did not follow my 'Twitter only' post yesterday.
- Ichimoku setup still has bearish bias, but the picture is a bit mixed, as we have a weak bullish Tenkan/Kijun cross, but Price is below these averages.
- Heikin-Ashi signals loss of swing bearish momentum (see candle, haDelta+ and haOscillator). Market may be building a higher low.
- I don't like wave counts, but on this chart the waves look pretty obvious. If price makes a hgher low here, then we can say 5 waves down were completed and A-B-C takes place next, with C target around 49,50-50.
- Watch: MACD couldn't cross down below signal line -> consolidation, no bearish resumption. EWO may print a higher low as well.
- Short term key level is 45,20.
- Ichimoku setup still has bearish bias, but the picture is a bit mixed, as we have a weak bullish Tenkan/Kijun cross, but Price is below these averages.
- Heikin-Ashi signals loss of swing bearish momentum (see candle, haDelta+ and haOscillator). Market may be building a higher low.
- I don't like wave counts, but on this chart the waves look pretty obvious. If price makes a hgher low here, then we can say 5 waves down were completed and A-B-C takes place next, with C target around 49,50-50.
- Watch: MACD couldn't cross down below signal line -> consolidation, no bearish resumption. EWO may print a higher low as well.
- Short term key level is 45,20.
