Signs of possible momentum weakness, and key supports to watch
- Ichimoku is bullish, but where is the momentum? Forward Kumo is getting thinner (longer averages converge)
- Heikin-Ashi (candles and indicators) shows indecision and lack of bullish momentum.
- MACD suggests rather a consolidation than a trend in place. It has massive negative divergence since december!
- EWO is bullish, but fails to print higher values
Key levels:
- 2276: daily Kijun
- 2243: Spot Kumo top, 100wma+ , forward Senkou B
- 2169: Very important as it is previous breakout level and also the Weekly Kijun Sen
- 2100: Major bullish trendline
- 2056: Monthly Kijun Sen (26 months average) --> real bear market would start below this
- Heikin-Ashi (candles and indicators) shows indecision and lack of bullish momentum.
- MACD suggests rather a consolidation than a trend in place. It has massive negative divergence since december!
- EWO is bullish, but fails to print higher values
Key levels:
- 2276: daily Kijun
- 2243: Spot Kumo top, 100wma+ , forward Senkou B
- 2169: Very important as it is previous breakout level and also the Weekly Kijun Sen
- 2100: Major bullish trendline
- 2056: Monthly Kijun Sen (26 months average) --> real bear market would start below this
