Daily: - The first deep "drop" on the chart was due to U6/Z6 contract change. - Second leg down was due to selloff triggered by ECB - Ichimoku setup is bearish, but price is far below Kijun and Kumo (equilibrium). Market needs consolidation. - Heikin-Ashi signals some pause in drop: doji candle, haDelta and haOscillator moves higher (still below zero) We'll likely see consolidation or even a pull back up to 165 in coming days - EWO seems to hit a local bottom. Small wave up possible
4H - Extremely bearish Ichimoku setup, but price far below shorter term equilibrium too. - Price could not make a lower low today. Heikin-Ashi signals indecision. - Positive divergences in haDelta, haOscillator and EWO - Possibility of a pull back to Kumo and Kijun is increasing!
Cover shorts, and/or open small swing long with tight stop.