FLI is facing a strong headwind

FLI is currently facing a strong headwind brought by the Kumo or Cloud. In case the bulls will not be able to break the cloud, there is a tendency it will fall to 50% Fibonacci Retracement level which is quite deep. The reason for this is the Kijun Sen line which will move horizontally for a few weeks. A Kijun Sen line that is moving horizontally has the power to attract the price to come close to it.

Ichimoku elements are still in a bullish setup but if price will break the 1.50 support, Chikou Span will present a bearish signal so I think that level is very crucial.

Caveat!

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