Daily price is on ranging market condition located inside Ichimoku cloud betweeb Senkou Span A and Senkou Span B lines. The key
resistance level for the bullish trend to be continuing is 1174.90; the
key support level for the price to be fully reversed to the bearish
market condition is 1077.19.
D1 price - ranging:
- Tenkan-sen line is above Kijun-sen line for bullish market condition.
- Absolute Strength indicators data is estimating the secondary correction.
- Chinkou Span line is located above and near the price to be ready to break the levels for any direction.
- 'Reversal' Senkou Span lines as the border between the primary bullish and the primary bearish on the chart are located above/below the price.
- Nearest key support level is 1077.19.
- Nearest key resistance level is 1174.90.
W1 price
is on bearish market condition with secondary ranging between 1077.19 support level and 1174.90 resistance level.
MN price
is on ranging bearish with 1077.19 support level.
If D1 price will break 1077.19
support level on close D1 bar so we may see the primary bearish market condition.
If D1 price will break 1174.90 resistance level so the price will be in primary bullish trend.
If not so the price will be on ranging between the levels.
- Recommendation for long: watch close D1 price to break 1174.90 for possible buy trade
- Recommendation
to go short: watch D1 price to break 1077.19 support level for possible sell trade
- Trading Summary: ranging
Resistance | Support |
---|---|
1174.90 (D1) | 1077.19 (D1) |
1174.90 (W1) | 1077.19 (W1) |
1306.81 (MN1) | 1077.19 (MN1 |
SUMMARY : ranging