Monday, November 14, 2016

SGX Nifty - Ichimoku Weekly Study - Support - Week 3 of November 2016.

View chart at.. (Click)  

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


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

Resisted by the Tenkan Sen (Weekly resistance) for 6 weeks, Index moves down, below support at the Kijun Sen.

Tenkan Sen was resistance zone again
Chikou Span goes below the Senoku Span B. Now in the Kumo.

Index resisted by the Tenkan Sen (Weekly resistance) falls below the Kijun Sen and is just above the Monthly Support. 

Looking Forward into this Week:

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

Kijun Sen is now Weekly Resistance - important for Bulls to conquer.
Chikou Span in the Kumo - Bearish Cross or Bullish Deflection with the Senoku Span A or Priceline (edit), next.

Bears look to continue this fall to below the Kumo
look for green at the Monthly Support - and a Chikou Span Deflection.