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Monday, December 26, 2016

SGX Nifty - Ichimoku Weekly Study - Bears Up - Week 4 of December 2016.





Zoom into Chart (Click)



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




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

Bears manage to get the Index below the Monthly Support Line.
Chikou Span still has a bearish cross with the Price line (see extreme left) .
Chikou Span in the congestion zone for now.


Wrap;
Index yoyos between the Monthly Support and Resistance lines. 




Looking Forward into this Week:


Bears want to keep the index below the Kijun Sen - Weekly resistance - and aim for the Kumo.
Chikou Span - in the congestion zone - could hug the Price-line, tracing its steep up move.
Tenkan Sen Cross is the next Bull ask.


Wrap:
Bears want more red on the screen and life in the Kumo.
Bulls look to take off from the Monthly Support line and restart the Up-move.