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Monday, November 28, 2016

SGX Nifty - Ichimoku Weekly Study - Inside Week - Week 5 of November 2016.






Zoom into Chart (Click) 


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



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

Chikou Span bounces (exactly) off the Senoku Span A (extreme left).
Index also sees a bounce at the Monthly Support Line.
Monthly Support Line now between the Kumo top and the Weekly Close of the Index


Chikou Span bounces off the Senoku Span A while the Index stays above the Monthly Support. 



Looking Forward into this Week:


Bears want to keep the index below the Kijun Sen - now Weekly resistance - and aim for the Kumo.

Kijun Sen - Weekly Resistance - important for Bulls to re-conquer.
Chikou Span and Price-line in spotlight - next target for a Bullish Deflection or Bearish Cross.


Wrap:
Bears look to continue this fall to reach the Kumo
(Center) with a Bearish Chikou Span Cross.
Bulls
look for more green off the Monthly Support - and a Chikou Span Deflection off the Price line  next.