Trading Conditions
Products
Tools
On a weekly basis the Ichimoku cloud indicator has given a weak bearish signal by a cross of the tenkan-sen below the Kijun-sen. I expect this bearish signal to provide a pull back test towards weekly cloud support before the bullish trend resumes.
Price is below the weekly Kijun- and tenkan-sen. Bulls need to recapture this resistance level ($9,500) in order for the trend to continue higher. Until then, price is in a bearish short-term trend looking for a back test of the Kumo. The Chikou span ( green line indicator) is approaching the lower cloud boundary support at 7270. Breaking below this level would be bad for bulls.InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.