W1 price is on bullish market condition with ranging between the following key levels:
- 1174.90 key resistance level located near and below Ichimoku cloud; if the price breaks this level from below to above so the local uptrend as the bear market rally will be started with the good possibility to the reversal of the price movement to the bullish market condition.
- 1077.19 key support level located far below Ichimoku cloud for the primary bearish condition to be continuing if broken.
Chinkou Span line is below the price indicating the ranging condition by direction.
If W1 price will break 1077.19
support level - the primary bearish trend will be continuing.
If W1 price will break 1174.90 resistance level so the local uptrend as the secondary market rally will be started with the
good possibility to the reversal of the price movement to the primary
bullish market condition.
If not so the price will be ranging between the levels.
Trend:
