IBEX35: Ichimoku indicators analysis

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IBEX35: Ichimoku indicators analysis
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point11692.10
Take Profit12237.80
Stop Loss11527.36
Key Levels11636.62, 11752.30, 11528.21, 11918.42
IBEX35: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen line has crossed Kijun-sen from below, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument has broken through the cloud and slowed down its growth. The closest support level is Tenkan-sen line (11636.62). One of the previous maximums of Chikou Span line is expected to be a resistance level (11752.30).


IBEX35: Ichimoku indicators analysis

On the daily chart Tenkan-sen line has crossed Kijun-sen from below, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud has reversed from descending to ascending. The instrument has entered the cloud. The closest support level is Tenkan-sen line (11528.21). One of the previous maximums of Chikou Span line is expected to be a resistance level (11918.42).


It is recommended to open short positions at current price with Take Profit at the level of previous minimum of Chikou Span line (12237.80) and Stop Loss at the level of Kijun-sen line (11527.36).


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