TA slowly moving away from the triangle

TA is trying to move away from the triangle but has a difficulty to do so as the bears are trying to pull the price. So far the Kumo was able to support the price and we just need a big spike to start the ball rolling. For those who were able to buy at the support line may continue to hold. The Chikou Span has given us a bullish signal which means its beginning to create an upward trend. In case the bulls will continue to win in this battle then we might see TA to hit around 2.7x then the 3.x level

RSI or Relative Strength Index is at 61.

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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