Doji on EMP

After touching the 38.2% Fibonacci Retracement level and bouncing to as high as 11.74, it seems that the bulls are becoming weaker. Today we have seen through the Doji candlestick that the bulls and the bears are in equilibrium. In addition, current price is at the resistance level which adds bearishness to our sentiment. Lastly, we have a flat top Kumo and Kijun Sen line moving horizontally. These two elements has the power to attract price. Will this bring the price down to 11.25?

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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