Weekly price is on bullish market condition for ranging within the following key reversal support/resistance levels:
- 1863.12 support level located below Ichimoku cloud in the primary bearish area of the chart, and
- 2134.42 resistance level located above Ichimoku cloud in the primary bullish area of the chart.
Chinkou Span line is below the price indicating the ranging condition by direction, and 'reversal' Sinkou Span line is located near and below the price which makes the bearish reversal of the price movement to be likely in the near future for example.
If W1 price will break 1863.12
support level so the price will be reversed from the primary bullish to the primary bearish market condition.
If W1 price will break 2134.42
resistance level so the bullish trend will be
continuing.
If not so the price will be ranging between the levels.
Trend:
