Brent H1: The Ichimoku Forecast for the Asian Session on 17.12.2024
Technical
The main signal of the latest trading sessions is the intersection of the Tenkan and Kijun lines, marked on the chart with a pink square. This is a negative signal....
The main signal of the latest trading sessions is the intersection of the Tenkan and Kijun lines, marked on the chart with a pink square. This is a negative signal. It indicates a change in the upcoming trend to a downward one.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is below the Tenkan and Kijun lines, indicating the prevalence of downward pressure.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
In addition, the price is above the Kumo cloud, which acts as a potential support zone.
The Chinkou line is now below the current price.
Trading recommendations:
Dynamic support levels are on the SenkouA line, at the level of the 73.43, and the SenkouB line, around the 73.16.
Dynamic resistance levels are on the Tenkan line, around the 73.74 mark, and the Kijun line, around the 73.87 mark.
The current situation:
Let's look at the main components of the indicator and their current values:
The price is below the Tenkan and Kijun lines, indicating the prevalence of downward pressure.
The Kumo cloud is colored orange, indicating the market tendency to a continuing upward movement.
In addition, the price is above the Kumo cloud, which acts as a potential support zone.
The Chinkou line is now below the current price.
Trading recommendations:
Dynamic support levels are on the SenkouA line, at the level of the 73.43, and the SenkouB line, around the 73.16.
Dynamic resistance levels are on the Tenkan line, around the 73.74 mark, and the Kijun line, around the 73.87 mark.
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.