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IBEX35: Ichimoku indicators analysis

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IBEX35: Ichimoku indicators analysis
Scenario
TimeframeIntraday
RecommendationBUY
Entry Point11878.20
Take Profit12000.00
Stop Loss11830.00
Key Levels11770.00, 11830.00, 12000.00, 12100.00
IBEX35: Ichimoku indicators analysis

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Kijun-sen line (11830.00). One of the previous maximums of Chikou Span line is expected to be a resistance level (12000.00).


IBEX35: Ichimoku indicators analysis

On the daily chart Tenkan-sen line is above Kijun-sen, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (11770.00). One of the previous maximums of Chikou Span line is expected to be a resistance level (12100.00).


It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (12000.00) line and Stop Loss at the level of Kijun-sen line (11830.00).


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