EMP breaking immediate support

Weekly: Weekly chart doesn’t show any valid reversal pattern so we think price will go sideways this week. Also, we do not have any ichimuko element because EMP is trading for just a few weeks. I think TSI chart should not be included because the outlook of traders/investors have changed from the day it was called EMP.

Daily: Daily chart is showing a weak bearish signal via Kijun Sen cross. Few days back we saw a strong bullish signal from the same line but bullish sentiment has dissipated after we saw EMP reach almost 12. Did it get tired?

In addition to weak bearish signal from Kijun Sen cross, Chikou Span is also showing bearish signal. As price goes deep into the Kumo, are we going to see price to break from it or just sideways?

In order for EMP to stay alive it should stay above 11.40 this week.

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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