Monday, December 5, 2016

CAC 40 - Ichimoku Weekly Study - Kumo Breakout ? - Week 1 of December 2016.

Zoom chart.. (Click)  

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


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

Bullish Senkou Span Cross (extreme right) done, with the Price inside the Kumo its a Neutral strength signal.

With support again at the Tenkan Sen, index closes just inside the Kumo (center). 
Monthly resistance line was the point of return last week.

Despite a Bullish Senkou Span Cross, Index stays in the Kumo after being turned down by Monthly Resistance. 

Looking Forward into this Week:

Bears want to get the index below the Kumo after defending the Weekly resistance line.

Longs look to the Bullish Chikou Span Cross and Senkou Span Cross, to aim for a higher high (weekly close).
Bulls now get serious about a Kumo Breakout, as thats the only Bullish signal left to go.

Bears look to get below the Tenkan Sen
, using the Weekly / Kumo top resistance.
seek life above the
Weekly Resistance, aided by the Chikou Span and Senkou Span Cross.