YM: technical analysis

YM, H4

On the 4-hour chart, a trend is changing to a downward one. The instrument is trading near the lower border of Bollinger bands, the indicator cloud is greatly expanded, which indicates the preservation of the downward trend in the short term. The MACD histogram is in the negative zone, gradually increasing volumes, the signal line crosses the zero line and the body of the histogram downwards, forming a signal to open short positions. Stochastic is in the oversold zone, the signal line of the oscillator is pointing downwards.

YM, D1

On the daily chart, an uptrend maintains. The instrument was corrected to the middle line of Bollinger bands, the indicator cloud is narrowed, the formation of a sideways trend is likely. The MACD histogram is in the positive area, maintaining a signal to open long positions. Stochastic is in the neutral zone, the oscillator lines are pointing downwards.

Key levels

Resistance levels: 27902.0, 27997.0, 28047.4, 28129.5, 28202.0.

Support levels: 27744.3, 27671.7, 27596.3, 27553.4.

Trading tips

Short positions may be opened in the short term from the level of 27744.0 with the target at 27600.0 and stop loss 27800.0. Implementation period: 1–3 days.

Long positions may be opened from the level of 28000.0 with the target at 28100.0. Stop loss 27950.0. Implementation period: 3–5 days.

Scenario

  • Timeframe

    Intraday

  • Recommendation

    SELL STOP

  • Entry Point

    27744.0

  • Take Profit

    27600.0

  • Stop Loss

    27800.0

  • Key Levels

    27553.4, 27596.3, 27671.7, 27744.3, 27902.0, 27997.0, 28047.4, 28129.5, 28202.0

Alternative scenario

  • Timeframe

    Intraday

  • Recommendation

    BUY STOP

  • Entry Point

    28000.0

  • Take Profit

    28100.0

  • Stop Loss

    27950.0

  • Key Levels

    27553.4, 27596.3, 27671.7, 27744.3, 27902.0, 27997.0, 28047.4, 28129.5, 28202.0