Monday, October 21, 2013

BSE Sensex - Ichimoku Study - The Bear Line Up - 5 and still on :- Week: 14 October to 18 October, 2013.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 18 Oct'13

Introduction / Primer to Ichimoku, can be read at this link (click). 

Learning from the Past Week: (click here for previous post)

The Senkou Span A&B #4 move higher but together  Tenkan Sen and Kijun Sen also do the same #3, and they all now read 19190.47  - 5th week they all read the same #5.
Bulls extend gains reaching up to clear recent highs with third green candle in a row #2.

Despite Bulls clearing recent Highs #2, Bears hold on to their last line of defense #5..

Looking Forward into the next Week:

The Senkou Span B crossing above the Senkou Span A #4 or the Tenkan Sen above the Kijun Sen #3 would give the Bulls control of the Medium Term Screen completely.

Bears manage to hold the line up  #5 despite the Bull pressure. 
Chikou Span moves clear of Price Line - deflection or cross some time away #1.

Tenacious Bears desperately hold their line #5 - Bulls seek to complete the kill #3 & #4.