- Tenkan-sen line is located above Kijun-sen line of Ichimoku
indicator with 122.02 resistance level on monthly timeframe chart for the bullish market condition to be continuing.
- Primary bullish market condition was estimated by AbsoluteStrength indicator and TrendStrength indicators with the secondary ranging which was started in the beginning of january this year.
- Chinkou
Span line is located to too far for any possible breakdown/breakdown which may be consider in this year on monthly timeframe for example
- Nearest support levels are 115.56 and 104.09
- Nearest resistance level is 122.02
If MN price will break 104.09
support level on close monthly bar - the secondary correction will be started within the primary bullish
If MN price will break 122.02 resistance level so the primary bullish will be continuing
If not so the price will be ranging between 122.02 and 101.50 levels
Resistance | Support |
---|---|
122.02 | 115.56 |
N/A | 104.09 |
Trend: ranging bullish