W1 price is on bullish market condition for the secondary ranging within the following key support/resistance levels:
- 17.3403 resistance level located far above Ichimoku cloud in the bullish area of the chart, and
- 16.3235 support level located on the border between the primary bearish and the primary bullish trend.
Absolute Strength indicatior is
estimating the secondary ranging within the primary bullish market condition.
- The nearest resistance level is 17.3403.
- The nearest support levels are 16.3235 and 15.1665.
If the price will break 16.3235 support
level so the reversal of the price movement to the primary bearish market condition will be started.
If the price will break 17.3403
resistance level from below to above so the primary bullish breakout
will be continuing.
If not so the price will be ranging between the levels.
- Recommendation for long: watch close W1 price to break 17.3403 for possible buy trade
- Recommendation
to go short: watch W1 price to break 16.3235 support level for possible sell trade
- Trading Summary: bullish breakout
| Resistance | Support |
|---|---|
| 17.3403 | 16.3235 |
| N/A | 15.1665 |
Trend:
