European equity bull may take a pauseWeekly:
- Bullish Ichimoku setup, Price back above Kijun Sen, but could not yet make a higher high this week, and candle body close is ard the level of the last green candle's close. So the momentum has lost a little bit by the end of the week.
- Heikin Ashi is bullish, but for continuation haDelta shd make a decisive cross above SMA3 next week.
Daily:
- Bullish Ichimoku setup, but price faces some short term resistance ard 3700
- Heikin Ashi signals a drop in bullish momentum. Today closing will be very important, as then we'll have more clue from the candle position and haDelta if we'll see some consolidation.
Looking at the daily setup now, I think there is increasing chance we'll see a pull back first which could push price back to 3600 (or maybe even to 3500 later but that is hard to see in advance), then we'll see how market reacts at supports.
For bullish continuation Price should close above 3695.
p.s.: I opened 0,5 counter short today with initial stop above 3700.
