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.

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.

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.