The (Ichimoku) has started to indicate a bearish signal (the bright-green MA has just started crossing below the bright-red MA, as you can see)... In addition, the cloud-resistances above is also quite thick... (This is quite a significantly bearish sign; because the price & the crossing is taking-place more "underneath" the cloud...) So now the price is perhaps trying to retest the cloud-supports/resistances & perhaps will most probably make a pullback downwards...
The MACD has already started forming some kind of a peak below (as you can see); it might get deeper down most probably... However, the RSI is still around it's neutrality level of 50 (neither close to overbought nor oversold condition yet)...
But a break out above the cloud will invalidate this idea.
Trade safe.
Best regards.
The MACD has already started forming some kind of a peak below (as you can see); it might get deeper down most probably... However, the RSI is still around it's neutrality level of 50 (neither close to overbought nor oversold condition yet)...
But a break out above the cloud will invalidate this idea.
Trade safe.
Best regards.
Note
A strong-caution on the 4h time-frame:AO/MACD looks to be turning upwards...
RSI crossed-over neutrality level of 50...
Thick Ichimoku cloud-supports below...
Any bearishness looks rather limited/restricted...
Trade safe.
Best regards.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.