H4
“Gold cross” (5) formed by the Tenkan-sen and the Kijun-sen during yesterday’s trading session, prevented the market from further decline, despite all efforts of the bears. Due to yesterday’s growth the price is located near the lower limit again and the bulls will try to get inside the Kumo.
It is worth mentioning that the Chinkou Span is already in the positive area above the price graph. Given the growth of the Tenkan-sen (3) and the Senkou Span A (1), after crossing we might expect the price to advance to the upper limit of the Cloud.
H1
As expected, on 1-hour graphs the prices tested the lower limit of the Cloud. However, the Senkou Span A was a strong support, which resulted in bulls activizing on the market and the prices going to the positive area above the Cloud.
Today in the morning another break-rebound pattern and currently the bulls are refreshing local highs. Moreover, positive mood of the market is indicated by the “Gold cross” (5) and the ascending Senkou Span A (1), which is ready to change the Cloud’s character to the upside.