Dark Cloud Cover on weekly chart
The last two candlesticks on DD’s weekly chart is showing a bearish sentiment via the Dark Cloud Cover. The last candlestick is telling us that the bulls power is diminishing and a possible correction is incoming. The confirmation level is defined as the last close. Prices should cross below this level for confirmation.
Since we don’t have a complete Ichimoku elements for the weekly chart, by looking at the daily chart, there is a threat to the 7.55 level where the Kijun Sen line is moving horizontally. If price will break the 23.6% Fibonacci Retracement level then we might see move closer to Kijun Sen line. Right now our strong support is the 23.6% Fibonacci Retracement level
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