MBT looks weak this time

MBT continue to show bearish signals. Today it fell by 2.51% moving away from the Kijun Sen. Another development to watch is the Tenkan Sen / Kijun Sen Cross which may happen if price will continue to fall. Price is currently support by the Kumo but Chikou Span is switching the red light on.

In case Kumo will not be able to hold then support from 78.6% Fibonacci Retracement level might be tested.

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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