This weekly chart shows a red spinning top candle has formed after this weeks trade. It denotes indecision in the market & we have to wait for next weeks trade to confirm a possible change of trend. It bounced off the $3.35 - $3.40 mark which once again confirms this is a major support area!!
Both the Tenkan Sen & Kijun Sen are still flat which signifies a possible consolidation period. Also, when the Kijun Sen turns flat it sometimes means the SP will trade towards it.
The numbers below are support & resistance levels that apply for all of next weeks trade.
First major support area is around the
$3.30 - $3.35 mark.
Next support level should be the Kijun Sen around the
$3.12 area.
First level of resistance could be
$3.73-$3.78 area.
Second resistance level could be the Tenkan Sen around the
$3.93 area.
The SP is trading above the Kumo so the overall market is bullish.
There are a lot of mixed indicators which means there is some indecision in the market.
View attachment 940093
IMO