IBEX35: ICHIMOKU INDICATORS ANALYSIS

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IBEX35: ICHIMOKU INDICATORS ANALYSIS
IBEX35: ICHIMOKU INDICATORS ANALYSIS

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is ascending. The instrument is trading between Tenkan-sen and Kijun-sen lines. The closest support level is Tenkan-sen line (10750.00). The closest resistance level is Kijun-sen line (10570.00).


IBEX35: ICHIMOKU INDICATORS ANALYSIS

On the daily chart Tenkan-sen and Kijun-sen lines have merged, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Tenkan-sen line (10780.00). The closest resistance level is Tenkan-sen line (10420.00).


On the both charts the instrument is still falling. It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (10570.00) and Stop Loss at the level of Kijun-sen line (10750.00).


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