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