TEL refuses to drop; Weak bullish signal on Kijun Sen

TEL did not confirm the bearish sentiment brought by the Doji as it close 16 points above yesterday’s price. Is TEL going to close the gap this week? Yesterday we thought there is a lot of reason for TEL to retrace since we have the kijun sen and the fibonacci retracement level but the bulls are stronger today, thus breaking the resistance. These two lines will now be our immediate support.

As price went up it crosses the Kijun Sen line which is considered a weak bullish signal because it happened below the Kumo. At least we have some bullish sentiment hovering above TEL this time.

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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