CPG breaking the Kumo

CPG broke from the Kumo or cloud today which is a bearish signal from Ichimoku system. The bottom of the cloud will now be our immedate resistance following the break. Although we have seen an action before at this level (1.50), some traders may protect the price from moving far downward. The Kijun Sen line which normally will attract price to come near its line is moving downward which suggests that price will continue to move down.

Caveat!

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