The weekly price is continuing to be ranging within s/r channel with new support level at 8243 and new resistance level at 9225:
Conclusion: ranging for direction.
The weekly price was bounced from 58.55 support level to above for 200 SMA to be broker with the new resistance level to be formed: 119.92. The Stochastic oscillator is indicating the overbought market condition so the secondary correction is very likely in the near future.
Daily price was bounced from resistance level at 32.93 to below for the secondary correction. For now, the price is trying to cross the 32.07 support and 200 SMA to below for the primary bearish reversal to be started with 31.86 as the nearest target to re-enter.
The price broke the support level at 24161 to below on the close weekly bar, but Chinkou Spam line of Ichimoku is not indicating the secondary correction to be started in the near future for example. Thus, the price is started to be ranged within 21250 support level for the primary bearish reversal and 24161 resistance for the bullish trend continuation with the secondary ranging way.
Trading Summary: waiting for direction
The weekly price is on still with ranging within 251.21/285.91 s/r channel. But rhe Chinkou Spam line of Ichimoku indicator is ready to cross the historical price to above for the possible bullish breakout. Anyway, the ranging market condition is under way for now.
Weekly price is located far above 200 SMA in the bullish area of the chart. The price is testing the resistance level at 115.26 for the bullish trend to be cotinuing, otherwise - the price will be on ranging waiting for direction.
The price was bounced from resistance level at 17.00 to below for secondary ranging within the primary bearish trend to be started and with 15.63 possible target to re-enter. Alternatively, the price will be located within s/r channel waiting for direction.
Weekly price broke 200 SMA for the good weekly breakout: the price was stopped by 115.26 resistance line with the ascending triangle pattern to be formed with 73.43/115.26 s/r levels. The Stochastic oscillator is indicating for the strong bullish trend to be continuing.
Trading Summary: bullish breakout
Chinkou Span line is crossing the historicalk price to below, and the weekly price is breaking the support level at 1.1490 for the secondary correction to the possible bearish reversal to be started.
Weekly price is on ranging within 0.5710/0.6120 s/r channel: the price was bounced from resistance level at 0.6120 to below and crossed 0.5927 level for 0.5710 as the possible target to re-enter and for the primary bearish trend to be resumed.
Trading Summary: wanting for the bearish trend to be continuing (in case of support level at 0.5710 to be broken to below) or for the primary bullish reversal (in case of 0.5927 resistance level to be broken to above for 0.6120 possble target.
Conclusion: ranging for direction.
The daily price is located to be near and above Ichimoku cloud within 4996/5419 s/r channel waiting for the direction of the secondary correction to the bearish reversal to be started or for the primary bullish trend to be continuing.
Trading Summary: waiting for direction.
The price was bounced from 194.2 support to above to the resistance level at 267.6 to be broken for good bullish breakout.
New resistance level is 352.8