See also
14.04.2025 12:58 AM
Last week, even though there was a bearish gap, bullish players were able to reclaim their ground effectively. The market is now approaching the point where it may eliminate the daily Ichimoku death cross (5410.90) and re-enter bullish territory in relation to the weekly cloud (5535.14). If that occurs, bulls will gain control of the main weekly trends (5474.69) and the monthly short-term trend (5471.06). Gaining control of these levels would create new opportunities for bulls. The nearest opportunities include eliminating the weekly golden cross at 5633.40 and testing the daily cloud.
Currently, the market is influenced and attracted by the levels of the Ichimoku daily cross (5410.90 – 5294.67 – 5239.35 – 5178.44), as well as the weekly (5316.10) and monthly (5252.76) Fibonacci Kijun levels. Breaking free from the influence of these boundaries would allow for the consideration of new downward targets.
The bulls currently have the primary advantage in the lower timeframes. However, the market has been stuck within a downward corrective zone for an extended period. Breaking out of this corrective zone could enable further upward movement, with intraday resistance targets guided by the classic Pivot levels and the breakout target of the H4 cloud (5690.31 – 5788.99).
If the bears manage to break through the support of the long-term weekly trend (5147.69), they will gain an opportunity to shift the current balance of power. In that case, the key reference points will be the supports of the classic Pivot levels, the updated values of which will become available when the market opens.
***
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
