Daily: What we have seen in last two days was a fake bullish reversal attempt. Price action finally ended up in a bearish candle yesterday, buying was rejected at Key Level (which was previously a multi month support for Bulls).
Tenkan/Kijun still in strong bearish cross, price is below Kumo and Kijun Sen, Chikou Span is below Price and Kumo, future Kumo is bearish.
I think if we see one more selling attack at 9,1100, then the trendline will succesfully break. Otherwise the triangle remains intact, and Price can go higher to test 9,2000+ again. Still, after yesterday I give somehow bigger chance for a bearish continuation from here. Upper supports are: 9,1500 / 9,1650 / 9,2250
4 Hrs: Looks like a similar kind of false break of 100 WMA and the Kumo as seen on 26-28 September, now Price is back below 100 WMA and touch below Kumo too. But to make sure bearish position is still reasonably good to hold, Price should dip below Kijun Sen at 9,1100, pulling down Chikou Span and also forcing DMI to bearish again
Now it is even more clear how important the 9,1100 level is.
Strategy: Short entry at 9,1100 stop if offered. Stop loss above 9,1510.
Tenkan/Kijun still in strong bearish cross, price is below Kumo and Kijun Sen, Chikou Span is below Price and Kumo, future Kumo is bearish.
I think if we see one more selling attack at 9,1100, then the trendline will succesfully break. Otherwise the triangle remains intact, and Price can go higher to test 9,2000+ again. Still, after yesterday I give somehow bigger chance for a bearish continuation from here. Upper supports are: 9,1500 / 9,1650 / 9,2250
4 Hrs: Looks like a similar kind of false break of 100 WMA and the Kumo as seen on 26-28 September, now Price is back below 100 WMA and touch below Kumo too. But to make sure bearish position is still reasonably good to hold, Price should dip below Kijun Sen at 9,1100, pulling down Chikou Span and also forcing DMI to bearish again
Now it is even more clear how important the 9,1100 level is.
Strategy: Short entry at 9,1100 stop if offered. Stop loss above 9,1510.
