ichimoku cloud update
On the daily chart of Du Pont or DD, there had been a Strong tk cross over 5/28/14. However price did not break the high of 68.82 (4/4/14) until on 5-30-14 is when price closed above 4-4-14's high. Since the 30th of may, price has slowly risen and is suddenly starting to retrace.
There is strong confluence that the market may do a fib bounce off of the 50% retracement.
First, the kinjun sen is lined uo with a 50% fib ( the green dotted line on the chart). which is around the 68.02 area. The 50% fib is at 68.01.
Next if you were to place the ichimoku cloud on a weekly chart the tenkan sen is at 67.89 which is a support level on the weekly chart.
Look for a key bounce around the 68.00 range on dd
On the daily chart of Du Pont or DD, there had been a Strong tk cross over 5/28/14. However price did not break the high of 68.82 (4/4/14) until on 5-30-14 is when price closed above 4-4-14's high. Since the 30th of may, price has slowly risen and is suddenly starting to retrace.
There is strong confluence that the market may do a fib bounce off of the 50% retracement.
First, the kinjun sen is lined uo with a 50% fib ( the green dotted line on the chart). which is around the 68.02 area. The 50% fib is at 68.01.
Next if you were to place the ichimoku cloud on a weekly chart the tenkan sen is at 67.89 which is a support level on the weekly chart.
Look for a key bounce around the 68.00 range on dd