Tuesday, September 24, 2013
The TenKan Sen will offer resistance as will the Volume Profile at 1711. These will turn to support if price can push above. Should the Bulls achieve this with another bullish candlestick tomorrow; a confirmed Bullish Harami will give the buy signal for both Ichimoku and candlesticks. 1726 then 1760 will become targets
As mentioned yesterday the 20 and 50 Daily Moving Averages will converge with the Green Fork.
The Volume Profile shows this support is strongest at 1673.50 and 1668
The bears need to break that support. If they do the next downside target will be the blue fork which coincides with the top of the Kumo.
The Bulls are on a roll and fighting to maintain momentum, while the Bears are simply waiting for their chance to sell.
Posted by Robert Campbell at 11:31