FESX1 - DOUBLE TOP IN PROGRESS WITH BEARISH DIVERGENCE ON D1 !M1 : ATH @ 4036; Ongoing trend reversal in progress !
W1 : Bearish engulfing in progress (wait W1 closing for confirmation)
TS under attack, first significant support @ 3765 ahead of 3597, 3462 and
3326 (clouds support zone in this time frame)
D1 : Double top formation in progress coupled with a bearish divergence
trigger level @ 3882 (which should be confirmed on D1 closing basis)
A breakout of that level open the door for 3728 (DT target), which
is roughly the middle of the D1 clouds support zone
H4 : Below the clouds and currently below the former support trend line
H1 : Below the clouds. Clearly in a downtrend pattern. It is a SELL on rally
M30 : Same than H1. A sustainable move above the 3900 area would neutralise temporary
the ongoing downside risk
M15 : Same than H1 and M30, the trend is your friend...
M5 : Same than H1, M30 and M15, watch MBB currently @ 3900 as a good barometer which
will give clues for the upcoming trading hours
CONCLUSION : SWITCH MODE HAS BEEN ACTIVATED FROM A BUY ON DIPS TO A SELL ON RALLY...
