|BSE 30 - End of Week Chart (EOW) - Analyzing 12 Month's Data - as on 16 Aug'13|
Introduction / Primer to Ichimoku, can be read at this link (click).
Learning from the Past Week: (click here for previous post)
Flat Kumo #3 rewards the Bears for the fourth week.
Gap between the Tenkan Sen & Kijun Sen narrow but steady #2.
Index stays in the Kumo after Kijun Sen and Tenkan Sen resists it last week #2.
Chikou Span slips further down- parallel to the price line #1.
Bears use Gravitational Pull produced by the Flat Senkou Span B #3 to pull Index down as studied 5 weeks ago.
Looking Forward into the next Week:
Chikou Span moving down parallel to price line and in close enough proximity to Bullishly break into it #1.
Gap between the Tenkan Sen - Kijun Sen narrow but steady - Bearish Cross or Bullish Deflection possible #2.
Flat Senoku Span B may continue to attract the Index towards it. #3.
Bulls look to get out of the Kumo - Bears remain attracted to the Flat Senoku Span B - #3 ...