Ichimoku Indicators Analysis

Let's look at the four-hour chart. The Tenkan-sen line is below the Kijun-sen, the lines are horizontal.

 The Chikou Span confirmation line is below the price chart, the current cloud is bullish. The instrument trades under the Tenkan-sen and Kijun-sen lines; the bearish trend is still strong. One of the previous lows of the Chikou Span line is expected to be the support level (26200.00). The nearest resistance level is the top of the cloud (27935.00).


On the daily chart, the Tenkan-sen line is below the Kijun-sen, the lines are horizontal. The Chikou Span confirmation line has crossed the price chart from above, the current cloud is bullish. The instrument trades under the Tenkan-sen and Kijun-sen lines; the bearish trend is still strong. One of the previous lows of the Chikou Span line is expected to be the support level (26000.00). The nearest resistance level is the Kijun-sen line (28245.00).

 

On the 4-hour chart, the instrument is still falling. On the daily chart, the bullish trend is still strong. It is recommended to open short positions at the current price with a target at the level of the previous low of the Chikou Span line (26200.00) and a Stop Loss at the lower limit of the cloud (27935.00).

Screenplay


Recommendation

 SELL

 Entry point

 27500.00

 Take Profit

 26200.00

 Stop Loss

 27935.00

 Key levels

 26000.00, 26200.00, 27935.00,

 28245.00