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Monday, December 12, 2016

CAC 40 - Ichimoku Weekly Study - Kumo Breakout !! - Week 2 of December 2016.








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




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

Monthly resistance line demolished as a massive Kumo Breakout happens.
All signals are currently Bullish.
Chikou Span hovering  near the Kumo top (extreme left)  

Wrap:   
Monthly Resistance line demolished as Bulls get their Kumo Breakout.



Looking Forward into this Week:


Bears want to get the Chikou Span back inside the Kumo (extreme left).


Longs having achieved a higher high (weekly close) now look to keep the momentum going.
Bulls now look to keep above the Tenkan Sen and not allow the Bears any leeway.

Wrap:
Bears look to get below the Tenkan Sen
, after getting the Chikou Span inside the Kumo.
Bulls
look at continuing life above the
Weekly Resistance after the massive Kumo Breakout.