The main signal of the latest trading sessions is the intersection of the Tenkan and Kijun lines, marked on the chart with a pink square. This is a negative signal. It indicates a change in the upcoming trend to a downward one.
The current situation
Let’s look at the main components of the indicator and their current values:
The price is below the Tenkan and Kijun lines, indicating the prevalence of downward pressure.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
The price is inside the Kumo cloud, which indicates a market uncertainty phase. The SenkouA and SenkouB lines act as support and resistance.
The Chikou line is now below the current price.
Trading recommendations:
The dynamic support level is on the SenkouB line, around the 25042.87 mark.
Dynamic resistance levels are on the Tenkan line, around the 25240.61, the Kijun line, around the 25247.61, and the SenkouA line, around 25253.51.
