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This trading week was ended with bullish ranging: the price was on primary bullish condition and it was stopped by 125.27 key resistance level, and for now - the price is ranging between 125.27 resistance and 123.78 support levels.
D1 price is on primary bullish with the secondary ranging which was started in the beginning of this week:
- Chinkou Span line is located to be above the price for the primary bullish with the secondary correction estimated by the direction of the line.
- 'reversal' Senkou Span line is located below the price and near 123.78 support level which makes the bearish reversal to be possible for the coming week.
- If price breaks 125.27 resistance on close daily bar from below to above so the bullish condition will be continuing; if the price breaks 123.78 support from above to below so the secondary correction will be started with the good possibility to the reversal to the primary bearish market condition.
SUMMARY : ranging bullish
