Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, both lines are directed upwards. Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending,Stock Markets The instrument has broken through Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (113.88). The closest resistance level is Tenkan-sen line (113.13).
On the daily chart Tenkan-sen line
has crossed Kijun-sen from above, the lines are horizontal .
Confirmative line Chikou Span is crossing the price chart from below,
current cloud is descending. The instrument is trading between
Tenkan-sen and Kijun-sen lines. Tenkan-sen and Kijun-sen lines have
become support (113.60) and resistance (114.20) levels respectively
Recommendation
It is recommended to open long positions at
current price with the target at the level of previous maximum of Chikou
Span line (114.48) and Stop Loss at the upper border of the cloud
(113.41).
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