NQ1 - D1 - WATCH CAREFULLY MBB @ 13045

2021년 1월 29일

D1 : Despite a strong recovery attempt, yesterday's closing price @ 13186, did not confirmed yet that the downside risk is over.
Indeed, the failure to close, at least above 13306, which is the middle of the former long bearish black candle is a first signal
that the ongoing new bear trend is in progress.
Today's price action will also be decisive for further development as we will have triple closing (D1,W1 and M1)
An important leading indicator remains the Mid Bollinger Band (MBB) which is currently @ 13045 and as you can see
worked perfectly well as a barometer indicator.
Bearish scenario :
A failure this evening to close above the psychological of 13000 should open the door for lower levels, having in mind
12584, 12271 and 11957 (Fibonacci retracements) as strategic targets.
Interesting to note that the levels previously mentioned coincides also with the clouds support zone !
Bullish scenario :
In order to return in a bullish mode, we need to see this evening, at least a closing above 13306 which would trigger a "piercing line pattern" or much more better a closing above the former high which would make a new high and trigger a "bullish engulfing pattern" calling for
an upside extension.

H4 : Currently traded below :
1) the downtrend resistance line
2) MBB
3) Kijun-Sen
4) Tenkan-Sen
A failure to hold above 12850/12800 would trigger further selling pressure

H1 : Once again clouds acted perfectly well as an important level to break in rejecting around 13400 the recovery attempt