Weekly: - Major bullish trend and bullish Ichimoku setup. Stronger supports at 1312 and 1280+ - 6th week of consolidation. Possibly building another bullish flag. - watch haDelta for a cross up this week. - MACD is a question. If price continues up, it will fail to cross down.
Daily: - Consolidation at/around Kijun Sen. Chikou is at past candles. Tenkan and Kijun both flat. - Supports: 1335 / 1300-1312 - Heikin-Ashi patern shows consolidation, but it has a bullish bias until price can not break and close below Kijun Sen. Also haDelta and haOscillator shows some slowly increasing bullish force. - EWO ticks higher again (another small bullish signal?) - Formation may be a bullish triangle, with upper key at 1360.
Note that volatility (measured by ATR) is very low! This means two things: 1. In case you have a trade setup, you can trade higher nominal amount now due to lower ATR (assuming same nominal fix % stop loss / trade) 2. Once we see a breakout from the triangle, the move will be sharp and quick, sending ATR higher again!
Fro me it looks like a bullish breakout has higher chance. Get ready to increase longs!