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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.


Wrap: 
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.


Wrap:
Bears look to continue this fall to below the Kumo
(Cloud).
Bulls
look for green at the Monthly Support - and a Chikou Span Deflection.