WFC - 1H - 21.07.2020 (17.07 Follow up)
Updated
#WFC -1H - 21.07.2020 - Ready, set...
After a brief skid this monday, price broke our second downtrend with a solid bullish candel (Economic fundamental causes behind it). Hopefully, the beginning of new tendence.
If we look at closely our Ichimoku cloud indicator, we will find that tenkan (convertion line) crosses upward Kijun (base line) when the price is above the cloud. According to the rule book of our friend Mr. Ichimoku, this is equivalent to a strong buy signal entry.
Tomorrow will be crucial to consolidate a 25.90 - 26.10 price range. After that, we can start thinking about the firt medium term resistance at 30 USD.
After a brief skid this monday, price broke our second downtrend with a solid bullish candel (Economic fundamental causes behind it). Hopefully, the beginning of new tendence.
If we look at closely our Ichimoku cloud indicator, we will find that tenkan (convertion line) crosses upward Kijun (base line) when the price is above the cloud. According to the rule book of our friend Mr. Ichimoku, this is equivalent to a strong buy signal entry.
Tomorrow will be crucial to consolidate a 25.90 - 26.10 price range. After that, we can start thinking about the firt medium term resistance at 30 USD.
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We had and small but good bullish trend since the last analysis. Today´s correction indicates that our new short term tendence is not as strong as we thought, but we are still on track. Todays bearish volume was not convincent in my opinion. Hopefully, green Ichimoku´s should work as support tomorrow.
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Green cloud working as support. Dont give up and hold your positions! Patience.Trade active
Massive impact on price due to negative results of USA´s economic growth index. Sometimes it´s difficult to measure the impact of fundamentals.In my opinion, will be hard to return previous levels, but a good opportunity to increase our position at cheap prices. Still optimistic about WFC.
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