1Finance

Monthly price is on breakdown with possible bearish reversal: the price is breaking Ichimoku cloud on open monthly bar together with descending triangle pattern for the breakdown to be continuing with the possible reversal of the price movement from the primary bullish to the primary bearish market condition.

The price is ranging within the following key support/resistance lines:

• 195.86 key resistance level located above Ichimoku cloud in the the bullish area of the chart, and
• 145.77 key support level as the Senkou Span line located in the beginning of the primary bearish area.

Chinkou Span line is crossing the price to below for the good breakdown to be started, and Absolute Strange indicator is estimating the trend to be bearish in the near future.
If monthly price will break 145.77 support level on close bar so the reversal of the price movement from the primary bullish to the primary bearish condition will be started.
If monthly price will break 195.86 resistance level on close bar from below to above so the bullish trend will be continuing
If not so the price will be on ranging within the levels.

• Recommendation for long: watch close MN1 price to break 195.86 for possible buy trade
• Recommendation to go short: watch MN1 price to break 145.77 support level for possible sell trade
• Trading Summary: correction to bearish reversal

Resistance	Support
195.86	145.77
N/A	N/A

SUMMARY : correction to bearish reversal
TREND : correction