Index is Struggling to Breach the Confluence Resistance

Index has again found support by the Yearly R1 and
is challenging the confluence resistance around 12000
(Weekly and Monthly PP, Kumocloud and Kijun Sen)
Look for a candle close above 12025 for more conviction
to the upside. A breaching of Weekly R1 and the descending
channel and a taking out of previous high at 12085 may
be the beginning of another larger leg up. A failure at
current levels (Kumocloud and Weekly PP) will likely lead
to a test of previous low and Yearly R1 again. If that level
fails to support Monthly S1 is in play around 11870.