W1 price is located far above Ichimoku cloud in the bullish area of the chart. The price was bounced from support level at 48,38 to above to the 83,98 level as the next possible target. Stochastic indicator is on overbought market condition so the strong bullish trend may be continuing with good fundamental news events only as a breakout for example. - If the price breaks resistance at 83,98 to above on close weekly bar so the strong bullish trend will be continuing. - Alternatively, the price will be on ranging up to the secondary correction with 48,38 as a next possible target for example. Recommendation: ranging; watch the price with watch the price resistance at 83,98 for possible buy position for breakout on strong fundamental news events, otherwise - ranging or correction as the counter trend.
2026.01.08 10:29
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The price was bounced from monthly resistance line at 121.66 to below for the ranging within 48,38/83,98 support resistance channel.
Trading Summary: ranging
Weekly price already broker resistance at 83,98 to above on close weekly for the bullish breakout to be continuing with 119.43 as the next possible target to re-enter.