Cheers Zior. Both daily and weekly ichimoku have gone vertical....

Cheers Zior.

Both daily and weekly ichimoku have gone vertical.
(Not surprising given the speed of the rally and the fact that the lines include a nine-period average, 26-period average, an average of those two averages, a 52-period average, and a lagging closing price line.)

Depicting enormous strength in the trend. The strong upward slope of the green cloud and the price running well above the cloud on the daily confirms this.

When we eventually get a period of consolidation , the cloud will flatten out as the averages play catch up to current price, and will show a strong band of support below current price. Top of the daily cloud , support, comes in At 31.5 but this will rise day by day as the 9 day average plays catch up,

DMI studies on lower panel also showing momentum literally off the charts ... above 80 daily, above 50 weekly.
Typically greater than 20 suggests momentum is strong. Based on this , the high volumes, theshallow pullbacks and late bounce today , 35-37 should be immediate support for tomorrow. 31-33 Massive support for the weeks ahead.






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