Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. One of the previous minimums of Chikou Span line is expected to be a support level (4969.0). The closest resistance level is the upper border of the cloud (5044.2).
On the daily chart Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument has broken down Tenkan-sen and Kijun-sen lines. The closest support level is the upper border of the cloud (4873.5). One of the previous maximums of Chikou Span line is expected to be a resistance level (5114.0).
On the four-hour chart we can see the beginning of the trend reversal. On the daily chart we can see a correction of the upward movement. It is recommended to open short positions at current price with the target at the level of previous minimum of Chikou Span line (4885.0) and Stop Loss at the lower border of the cloud (5044.2).
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