|BSE 30 - End of Week Chart (EOW) - Analyzing 12 Month's Data - as on 07 Feb'14|
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from last Week: (click here for previous post)
Bulls stay below the Tenkan Sen #W2.
Senkou Span A & B - converge #W3.
Distance between Tenkan Sen and Kijun Sen contractst #W2
Chikou Span slides away from Price zone - avoiding a bearish cross #W1.
Wrap: Index stays between the Tenkan Sen and Kijun Sen #W2.
Looking Forward into this Week:
Chikou Span needs to cover a lot of ground to meet the Price Line in the next few weeks - thus postponing a bearish cross #W1.
Bears need to stay below the Tenkan Sen to remain in the game #W2.
Convergence of Tenkan Sen, Kijun Sen and the Senkou Span A & B favors Bears #W2 #W3.
Wrap: Bears eye the Kumo #W2. Bulls trust the Chikou Span stays above the Price line #W1.