The most significant signal of the previous trading sessions was the intersection of the Tenkan and Kijun lines, which is considered as a signal of a change in trend in the market.
The second important signal is a change in the color of the Kumo cloud, which is marked with a vertical purple line on the graph. The appearance of a lilac color in the cloud indicates a change in the priority direction of movement to downward.
The current situation
Let’s carefully look at the current values of the main components of the Ichimoku indicator to assess the current state of the market:
The market price remains above the Tenkan and the Kijun lines, indicating a prevailing positive market sentiment.
Now the Kumo cloud is tinted lilac, which indicates a possible change in price dynamics in a negative direction.
Currently, the Kumo cloud lines represent a dynamic support area for price.
The Chikou line, which displays the closing price with a lag of 26 periods, is above the current price.
Trading recommendations:
Dynamic support levels are seen at the Tenkan line near 533.37, the Kijun line around 532.31, the SenkouA line near 537.27, and the SenkouB line around 541.59.
