Monthly price is located inside Ichimoku cloud for the breakout with the bullish reversal to be started on open monthly bar for now:
- Chinkou Span line crossed the price to above for the possible breakout to be started;
- the price is breaking 55,820 resistance level to above for the breakout to be continuing and with 'reversal' Senkou Span at 58,750 to be tested for the monthly bullish reversal;
- ascending triangle pattern was formed by the price to be crossed to above for the uptrend to be continuing.
Absolute Strength indicator is estimating the long-term bullish trend in the near future.
- If the price will break 58,750
resistance level so the reversal of the price movement from the ranging
bearish to the primary bullish market condition will be started.
- If price will break 51,325
support so the primary bearish trend will be resumed.
- If not so the price will be ranging inside Ichimoku cloud for direction.
|Resistance ||Support |
SUMMARY : breakout