Deep pullback but is more safe buy now because the bad has happened
In Feb 5, 2018 Dow drops 1,175 points the biggest point drop In history and historically after big falls like the Black Monday October 19, 1987
Remember that after the shock, strong hands buy stocks.
About the resistance line:
Resistance Line is an (Area, Zone, Sector)
Between 31.90 to 34.70 ...
ENI seems in a downtrend continuation into a descending channel. I'm expecting one more test on lower channel before a possible breakout to the upside. Now the price is breaking the rising correction with a bearish divergence.
Weekly:
- Clear double bottom this year around 12,90. Neckline and Kumo top is ard 16,72. Above that space would open to 20.
- Ichimoku setup is turning to neutral as Chikou losing open space and Price is trying to move above Kijun Sen. Thin Kumo overshade ahead. However Tenkan is still below Kijun and future Senkou A points down a bit.
- Heikin Ashi may give a...
Looking for bullish continuation off of this important level, movement up from here could push us into trend continuation. Creating further higher highs and higher lows, giving us the seed of a new uptrend for longer term holds, off a nice bottoming like, double bottom we saw at the lows of the long term range.
Thanks,
Tom
