SHIP - Long-Term Technical Forecast

The weekly price is located above Ichimoku cloud in the bullish area of the chart. The price was bounced from support level at 16.86 to below for trying to break the next support level at 13.56 for the secondary correction to be started.

• If the price breaks the level at 13.56 to below on weekly close bar so we may see the secondary correction within the primary bullish market condition.
• If the price crosses 8.94 support to below together with the next support level at 7.66 so the primary bearish reversal will be started.
• Alternatively, the price will be on ranging to be near and above Ichimoku cloud waiting for the direction of the strong trend to be started.

Trading Summary: ranging to the secondary correction