Weekly price is on bearish market condition for ranging between 42.18 support level and 54.27 resistance level.
- Chinkou Span line is located to be below the price and indicating the ranging condition to be continuing.
- 'Reversal' Senkou Span line (which is the virtual border between the primary bullish and the primary bearish on the chart) is located above the price.
- Absolute Strength indicator is estimating the secondary ranging.
If W1 price will break 42.18
support level on close W1 bar so the bearish market condition will be continuing.
If W1 price will break 54.27 resistance level on close W1 bar so the bear market rally will be started up to the reversal of the price movement from the primary bearish to the primary bullish market condition.
If not so the price will be ranging between the levels.
Trend:
