Monday, October 20, 2014

BSE Sensex - Ichimoku Study - Bears Hold - Week 4 of October 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 17 Oct'14

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

Learning from the Earlier Study: (click here for the post)

Bulls again fail to get index above the Tenkan Sen #W2.
Senkou Span A & B - gap higher #W3.
Tenkan Sen and Kijun Sen gap also higher #W2

Wrap: Index edges below the previous major High, and keeps below the Tenkan Sen 

Looking Forward into this Week:

Senkou Span 'A & B' diverging, is good for Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few weeks #W1.
Tenkan Sen and Kijun Sen crossing or deflecting is also a few weeks away by current trends #W2

Wrap: Bears seek to keep t
he index below the Tenkan Sen and get to the Kijun Sen, Bulls focus on getting back to the previous Highs  #W2.